Qatar Air headed for annual loss amid Saudi blockade, CE warns

Qatar Airways is headed for an annual loss after a Saudi-led blockade of its home nation forced the scrapping of some routes and the diversion of others. The carrier expects to post a loss this year, though it’s too early to say how big the deficit will be, CE Akbar Al Baker said Tuesday. Net income at the group rose 22% to US$525m in the year through March. “It is painful because there are many routes that slide as much as 2 1/2 longer, and there are routes that are narrow-body routes where we had to convert to wide-body in order carry enough fuel to go the longer distance,” the CE said. All told, Qatar Air has lost almost 11% of its network and 20% of revenue, he added. Al Baker’s comments are his frankest yet following the imposition of trade and transport barriers by Saudi Arabia, Bahrain, Egypt and the UAE in June. <br/>