Qatar Airways Records Nearly $2bn Annual Loss - Simple Flying

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Qatar Airways has released its annual statement for the year ending March 31st, 2020. In the report, the…
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Qatar Airways has released its annual statement for the year ending March 31st, 2020. In the report, the airline confirmed a loss of around $1.9 billion (7 billion riyals). The airline also confirmed that it received a 7.3 billion riyal advance from the government of Qatar to help it cope with the global downturn. Last year the airline reported a loss of $639 million, making this year a record year of losses before the impact of the pandemic is factored in.

Everyone knows that this year's, and next year's, financial results aren't going to be the most promising results. Qatar Airways released its annual results for the 2019-2020 and reported a record-breaking loss.

According to the results statement, the recent global pandemic isn't the only reason why the airline suffered such huge losses. The report claims that the ongoing dispute regarding airspace in the Middle East is continuing to cause problems for the airline. Additionally, Qatar Airways owned a 49% stake in now liquidated airline Air Italy, which was obviously a blow for the carrier.

Of course, COVID-19 is slightly to blame. However, these results only account for revenue until the end of March 2020. Since the pandemic only starting impacting airlines in mid-March, the outbreak had a limited impact on this year's results. 2021 will be even worse than this year.

The Results

Despite the somewhat negative total, Qatar Airways did have some good numbers in the annual report. The total number of passengers carried increased by almost 10% to 32.4 million passengers. The airline's capacity of seats per kilometer also increased by just over 3%. Passenger revenue grew in…
Emily Derrick
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