Libya's NOC lifts force majeure on El-Feel oilfield, Sudan unveils steps to normalise ties with Israel. {* forgotPassword_sendButton *}, {* backButton *} Get breaking news, weather and traffic stories in your inbox 7 days a week, 24 hours a day. He lost $ 69 million in 2018. Wall Street collapses as virus fears grow – live updates, Jack Ma’s Ant Group aims to raise $ 34.5 billion in biggest IPO of all time, Stocks of Covid vaccines to be delivered to hospitals in London starting next week with health chiefs on standby, Cruise stocks drop as spike in new COVID-19 cases sparks market sell-off, Tesla ships first 7,000 Chinese-made Model 3 cars to Europe, Julie and the Ghosts review: Netflix beats the Disney channel at its own game, UK coronavirus death toll rises from 708 to 4,353, but new infections could slow sign locks – The Sun, The best luxury grooming gifts for Father’s Day 2020, California sets rules to end coronavirus shutdown on set. I understand that I can withdraw my consent at any time. You have entered an incorrect email address! The coronavirus pandemic halted global aviation for months. Please confirm the information below before signing up.      That boycott continues today, despite efforts by other Gulf Arab nations and the U.S. to reconcile the countries involved in the political dispute.    Al-Baker said since the pandemic, Qatar Airways has flown over 2 million passengers and carried over 250,000 tons of medicine and aid to areas impacted by the coronavirus.    “I have every confidence that the Qatar Airways Group will emerge stronger from this difficult period and continue to innovate and set the standards that our competitors can only hope to emulate," he said.    Further hurting the airline was the February collapse of Air Italy, a regional carrier it held a 49% ownership stake in at its launch in 2018.

Qatar Airways reports £1.5bn losses. It lost $69 million in 2018. Qatar Airways chief executive Akbar al-Baker said in a statement: “If not for the exceptional circumstances of fiscal year 2020, our results would have been better than the year before.”. Qatar also has been targeted by Bahrain, Egypt, Saudi Arabia and the United Arab Emirates in a boycott since June 2017. | Music | Entertainment, Covid job losses hit UK youth hardest, study finds | Company, Homework ‘hurts Britain’s creative potential and economic well-being’ | Company, Retired British Airways Boeing 747 to be Converted into Cinema and Museum | UK News, Husky stops construction of West White Rose for 2021, McDonald’s social media manager calls for help, brands give warm hug. © 2000-2020 Middle East Online. All rights reserved. “I have no doubts that the Qatar Airways group will emerge stronger from these difficult times and continue to innovate and set standards that our competitors can only hope to emulate,” he said. Qatar Airways in its financial statements said it would likely lose almost $ 400 million on Air Italy alone. We didn't recognize that password reset code. Send me promotions, surveys and info from NEWS 1130 and other Rogers brands. It also restated its losses for the previous year in the financial report Sunday, putting it at close to $1.3 billion as opposed to the $639 million it earlier reported. United to reconcile the countries involved in the political conflict. {* backButton *} DUBAI - Qatar Airways received a 7.3 billion riyal ($1.95 billion) lifeline from the Qatar government after losing 7 billion riyal ($1.9 billion) in the year to March 31, the state-owned group disclosed on Sunday. “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. The airline said it has more than 50,000 employees on its payroll in the report. Newsmax, Moneynews, Newsmax Health, and Independent. This material may not be published, broadcast, rewritten or redistributed. It also restated its losses for the previous year in the financial report Sunday, putting it at close to $1.3 billion as opposed to the $639 million it earlier reported. The airline saw revenue increase 6.5% to 51.1 million riyal. It also restated its losses for the previous year in the financial report Sunday, putting it at close to $1.3 billion as opposed to the $639 million it earlier reported.

The state-owned carrier blamed the global pandemic and an ongoing boycott of Doha by four Arab nations for further adding to its losses. These cookies do not store any personal information. We've sent an email with instructions to create a new password. The carrier also blamed the new accounting rules for further increasing losses in the past year. Ontario Reports 491 COVID-19 Cases, Largest Daily Increase in Months, Beatles Songs: What songs did John Lennon write as part of the Lennon-McCartney partnership? Last Updated Sep 27, 2020 at 4:18 am PDT DUBAI, United Arab Emirates — 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. Sunday 27/09/2020. Long-haul carrier Qatar Airways has reported revenue losses of 1.9 billion US dollars (£1.49 billion) for the past year, blaming the coronavirus pandemic among other things. “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. Links will not be permitted. Your existing password has not been changed. The airline carried 32.3 million passengers in the last fiscal year, up from 29.4 million the previous year. That’s when demand for flights remains weak amid fears over the virus, which has taken its toll on international travel.

All rights reserved. Enter your email address to get a new one. The airline said the 2019-20 financial year had been one of the most difficult in its nearly three-decade history, with losses widening from a restated 4.5 billion riyal loss in the previous year. GM says it will lead the electric revolution, but can we trust them?