November 29, 2021

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Qatar Airways reports huge loss for 2020 | News

2 min read

Qatar Airways has documented a internet loss of QAR14.9 billion (US$4.1 billion) for economic 2020, laying out a comprehensive accounting of the Covid-19 pandemic to day.

The carrier reported QAR8.4 billion (US$2.3 billion) was thanks to a just one-time impairment charge related to the grounding of its Airbus A380 and A330 fleets in the wake of the outbreak.

The flag-provider claimed an operational loss at QAR1.1 billion (US$288 million), 7 for each cent significantly less compared to 2019.

In addition, the group achieved a substantial enhancement in EBITDA, which stood at QAR6 billion (US$1.6 billion) in comparison to QAR5 billion (US$1.4 billion) the prior calendar year.

Reflecting on what has been the most complicated and remarkable 12 months in the heritage of the airline, Qatar Airways Group main executive, Akbar Al Baker, explained: “While our competition grounded their plane and closed their routes, we adapted our complete industrial procedure to react to ever-evolving vacation limitations and never stopped traveling, running a community our passengers and buyers could depend on.

“With the guidance of our assorted fleet of modern day, gas-efficient plane, we had been in a position to make sure that much more of our scheduled flights operated than any other carrier and fulfilled our mission of getting stranded travellers household, when maintaining world-wide source chains to transport health care support and materials vital to the struggle from Covid-19.

“We also significantly expanded our charter organization as a immediate reaction to improved desire in this place, delivering vital and reliable expert services to guidance our clients through unsure moments, an exertion that was publicly appreciated and acknowledged by a lot of governments and organisations all around the planet.”

Cargo has also overseen a 4.6 for every cent rise in freight tonnes dealt with in excess of the earlier fiscal yr, with 2,727,986 tonnes (chargeable excess weight) managed in 2020.

The team also designed significant progress in its ambition to forge new strategic partnerships with quite a few main airlines, together with American Airlines, Air Canada, Alaska Airways and China Southern Airlines.

These new alliances, along with an expanded cooperation with quite a few current companions, which includes JetBlue, Iberia, LATAM, Cathay Pacific and Oman Air, further more strengthened Qatar Airways’ connectivity.

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