Article from BTNews 23 SEPTEMBER 2019
Ups and downs at Qatar Airways
A “year of achievement in the face of adversity” was hailed by Qatar Airways last week as the company published its annual report for 2018-19 highlighting the group’s success and underlying robust financial health.
CEO Akbar Al Baker said overall revenue grew 14% to US$13.2bn (£10.5bn) despite what he called “the continued illegal airspace blockade against the State of Qatar”.
The airline posted a net loss of $639m (£511m) for 2018-19 compared with a $69m (£55m) net loss for the previous year but Al Baker said the group was in good financial health despite the turbulent times.
The airline attributed the loss to the loss of mature routes, higher fuel costs and foreign exchange fluctuations but the CEO added: “The year 2018-19 was one of achievement in the face of adversity for Qatar Airways."
He added: “Our success is due to an unwavering belief in our strategy to give our passengers the very best, backed by the perseverance and hard work of our staff.
“I look forward to 2019-2020 with optimism and confidence that our growth will continue and we will serve even more countries around the world.”
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