Trending Today:
Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project
PIA Resumes | Lahore-Paris Flights After 5 Years
Etihad Goes | Four Daily To Karachi
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
Home»Uncategorized»Qatar Airways Receives | US$2bn Bailout Following Covid-19 Losses
Uncategorized

Qatar Airways Receives | US$2bn Bailout Following Covid-19 Losses

holidayweeklyBy holidayweeklySeptember 29, 2020No Comments
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

DOHA: Qatar Airways has received around US$2 billion in state aid as the flag-carrier battles the fallout from the Covid-19 pandemic.

Branding 2019/20 one of its “most difficult years,” the Middle Eastern airline noted it had also been hit by the ongoing blockade of Qatari airspace and the collapse of Air Italy in recent months.

Changes to accounting policy had also taken a toll, the airline said, releasing it financial results for the past year.

This headwind saw net losses nearly double to seven billion riyals (US$1.92 billion) for the 12-months to March.

The airline confirmed that Qatar had joined a list of governments that have stepped in to support their national carriers through the coronavirus shutdown.

As the Covid-19 pandemic continues to decimate the aviation sector, Qatar Airways said it would issue 730 million shares to the government after annual losses exceeded 50 per cent of share capital.

Dubai-based rival Emirates announced similar measures earlier this year.

Attempting to strike an upbeat note, Qatar Airways Group chief executive, Akbar al-Baker, pointed out a series of metrics were headed in a positive direction.

“If not for the exceptional circumstances of fiscal year 2020, our results would have been better than the year before,” he said.

Qatar Airways saw revenue increase 6.5 per cent to 51 billion riyals (US$14 billion) last year, while seat capacity increased by 3.2 per cent.

Much of the true impact of the pandemic on Qatar Airways remains unclear, however, as global lockdowns continued after its financial year ended in March.

Post Views: 4
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
holidayweekly
  • Website

Related Posts

NTCB & PTDC Organise | Consultative Workshop on National Minimum | Standards for Tourism & Hospitality Sector

October 23, 2020

Promoting Roshan Digital Account | Faysal Bank & PIA Join Hands

October 23, 2020

Bahrain Tourism Authority | Nasser Ali Yousif Is New CEO

October 23, 2020

Comments are closed.

Top Posts

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018

You would see the biggest gift woud be from me and the card

July 12, 2018
Don't Miss
Airports

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

By holidayweeklyJune 26, 2025

GILGIT-BALTISTAN: The government has formally launched the upgrade project of Skardu International Airport, marking a…

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025

Uzbekistan To Launch | Direct Flights To Pakistan On June 14th

June 14, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Email Us: info@example.com
Contact: +92 321 9264 080

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025
Most Popular

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018
© 2025 Weekly Holiday. Designed by Haseeb Ansari.

Type above and press Enter to search. Press Esc to cancel.