Qatar Airways has reported a internet lack of QAR14.9 billion (US$4.1 billion) for monetary 2020, laying out a full accounting of the Covid-19 pandemic up to now.
The provider mentioned QAR8.Four billion (US$2.three billion) was resulting from a one-time impairment cost associated to the grounding of its Airbus A380 and A330 fleets within the wake of the outbreak.
The flag-carrier reported an operational loss at QAR1.1 billion (US$288 million), seven per cent much less in comparison with 2019.
Moreover, the group achieved a big enchancment in EBITDA, which stood at QAR6 billion (US$1.6 billion) in comparison with QAR5 billion (US$1.Four billion) the earlier 12 months.
Reflecting on what has been probably the most difficult and extraordinary 12 months within the historical past of the airline, Qatar Airways Group chief govt, Akbar Al Baker, mentioned: “Whereas our rivals grounded their plane and closed their routes, we tailored our whole industrial operation to answer ever-evolving journey restrictions and by no means stopped flying, working a community our passengers and clients might depend on.
“With the help of our different fleet of recent, fuel-efficient plane, we had been ready to make sure that extra of our scheduled flights operated than another provider and fulfilled our mission of taking stranded passengers house, whereas sustaining international provide chains to move medical support and provides important to the combat towards Covid-19.
“We additionally considerably expanded our constitution enterprise as a direct response to elevated demand on this space, offering important and dependable companies to help our clients throughout unsure occasions, an effort that was publicly appreciated and acknowledged by many governments and organisations world wide.”
Cargo has additionally overseen a 4.6 per cent rise in freight tonnes dealt with over the earlier fiscal 12 months, with 2,727,986 tonnes (chargeable weight) dealt with in 2020.
The group additionally made important progress in its ambition to forge new strategic partnerships with a number of main airways, together with American Airways, Air Canada, Alaska Airways and China Southern Airways.
These new alliances, together with an expanded cooperation with a number of present companions, together with JetBlue, Iberia, LATAM, Cathay Pacific and Oman Air, additional strengthened Qatar Airways’ connectivity.
