Huge Qatar Airways loss worsened by Air Italy share
Qatar Airways Group has turned in a huge full-year operating loss, exceeding US$500m, exacerbated by a heavy share of losses at its Air Italy division. Group passenger revenues were up by 14% to QR34.1b and cargo revenues rose to just over QR10b for the year to March 31. But fuel costs, in particular, hit the carrier hard, surging by 36% to QR18.1b, the highest individual contribution to operating expenses of QR50b. This resulted in an operating loss of almost QR1.85b (US$508m), the company’s consolidated accounts show. The accounts show that Air Italy generated a QR542m loss for the financial year, of which the Qatar Airways Group share amounts to QR265.5m. Air Italy’s revenues for the period reached QR1.2b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-19/oneworld/huge-qatar-airways-loss-worsened-by-air-italy-share
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Huge Qatar Airways loss worsened by Air Italy share
Qatar Airways Group has turned in a huge full-year operating loss, exceeding US$500m, exacerbated by a heavy share of losses at its Air Italy division. Group passenger revenues were up by 14% to QR34.1b and cargo revenues rose to just over QR10b for the year to March 31. But fuel costs, in particular, hit the carrier hard, surging by 36% to QR18.1b, the highest individual contribution to operating expenses of QR50b. This resulted in an operating loss of almost QR1.85b (US$508m), the company’s consolidated accounts show. The accounts show that Air Italy generated a QR542m loss for the financial year, of which the Qatar Airways Group share amounts to QR265.5m. Air Italy’s revenues for the period reached QR1.2b. <br/>
