Qatar Airways reports $4 billion in losses
Qatar Airways' finances were also affected by the COVID-19 pandemic during the previous fiscal year, though the airline has now largely rebuilt its flight network.
Qatar Airways announced major losses this week as the fallout from the COVID-19 pandemic continues to hurt Gulf airlines.
Qatar Airways Group reported a net loss of $4.1 billion during its 2020-2021 fiscal year. More than half of the loss was related to a value drop in the airline’s planes that were grounded, the airline said in a press release Monday.
Qatar Airways’ fiscal year ran from April 2020 through March 2021, an airline spokeswoman told Al-Monitor Wednesday.
The Doha-based airline released a lengthy report detailing its finances compiled by the London-based firm Ernst & Young. The report indicated that during the previous 2019-2020 fiscal year, Qatar Airways also took a $1.9 billion loss.
