Qatar Airways says losses reach $1.9 billion amid pandemic, boycott
Long-haul carrier Qatar Airways on Sunday reported revenue losses of $1.9 billion for the past year, blaming the coronavirus pandemic, its liquidation of shares in Air Italy and the ongoing boycott of Doha by four Arab nations for the drop.
The state-owned carrier also blamed new accounting rules for further adding to losses for the past fiscal year, which ended March 31.
“If not for the exceptional circumstances of fiscal year 2020, our results would have been better than the year before,” Qatar Airways CEO Akbar al-Baker said in a statement.
