Losses Soar At Qatar Airways Amid Covid-19 Crisis

Losses Soar At Qatar Airways Amid Covid-19 Crisis

A Qatar Airways Boeing 787 Dreamliner at Cardiff Airport on January 18, 2020 in Cardiff, UK (Photo: ... [+] Matthew Horwood/Getty Images) Qatar Airways saw its losses more than double over the past year to QR14. 9 billion ($4. 1 billion), as it battled against extensive traffic and revenue losses caused by the Covid-19 pandemic. In financial results released today, the airline said passenger numbers had collapsed by more than 80% year-on-year to just 5. 8 million, while revenues slumped by 42% in the year to the end of March 2021 to $8 billion. To help it cope, the airline was forced to turn to its wealthy owner, the Qatari government, for equity injections which ultimately totalled $3 billion. It now says it is rebuilding its operations, with its route network expanding from 33 destinations at the low point of the pandemic to more than 140 destinations now. Even before the pandemic began, Qatar Airways had been struggling in the face of a boycott of Qatar by neighbouring countries Bahrain, Saudi Arabia and the UAE. That led to the airline posting a loss of $69 million in the 12 months to the end of March 2018. Since then losses have