Qatar Airways Registers Loss, Blames Blockade | Aviation International News

Qatar Airways Registers Loss, Blames Blockade

Airline characterizes 2017/2018 fiscal year the most challenging in its history

Qatar Airways registered a 33.4 percent increase in cargo revenue during the past year, largely offsetting the effects of the Saudi-led blockade against Qatar. (Photo: Flickr: Creative Commons (BY-SA) by airlines470)

By Gregory Polek • Senior Editor

September 19, 2018

Qatar Airways blamed what it calls the illegal blockade of its country by a Saudi-led coalition of Gulf states for the past fiscal year’s deteriorated financial position, reflected by a net loss of 252 million rials ($69 million) during the period. Calling 2018 the most challenging year in its 20-year history, the airline nevertheless managed to increase revenue by 7.22 percent, thanks largely to a 34.4 percent gain in cargo revenue. While capacity growth moderated to 9.96 percent, Qatar directly attributed its lower revenue growth to the blockade that took effect on June 5, 2017, which resulted in a 19-percent drop in departing seats.

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