Qatar Airways widens FY2018/19 net loss on higher costs
Qatar Airways reported a fiscal year 2018/19 net loss of QAR2.3b (US$639m), widened from a net loss of QAR251.6m in the year-ago period. The carrier attributed the results to loss of mature routes, higher fuel costs and foreign exchange fluctuations. Its FY2018/19 ended March 31. The airline said it was challenging year and—while it is disappointing the group registered a loss—the underlying fundamentals of its business remain extremely robust. The carrier is facing the second year of an air space blockade by neighbours that has restricted air routes and driven costs higher. The blockade over Saudi Arabia, the UAE, Bahrain and Egypt has barred the carrier from flying over the territory. As a result, the airline’s fuel costs increased 36% to QAR18.1b from QAR13.3b year-over-year by using more fuel. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-27/oneworld/qatar-airways-widens-fy2018-19-net-loss-on-higher-costs
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Qatar Airways widens FY2018/19 net loss on higher costs
Qatar Airways reported a fiscal year 2018/19 net loss of QAR2.3b (US$639m), widened from a net loss of QAR251.6m in the year-ago period. The carrier attributed the results to loss of mature routes, higher fuel costs and foreign exchange fluctuations. Its FY2018/19 ended March 31. The airline said it was challenging year and—while it is disappointing the group registered a loss—the underlying fundamentals of its business remain extremely robust. The carrier is facing the second year of an air space blockade by neighbours that has restricted air routes and driven costs higher. The blockade over Saudi Arabia, the UAE, Bahrain and Egypt has barred the carrier from flying over the territory. As a result, the airline’s fuel costs increased 36% to QAR18.1b from QAR13.3b year-over-year by using more fuel. <br/>
