- Title: Qatar Airways annual losses double on pandemic, impairments
- Date: 27th September 2021
- Summary: DOHA, QATAR (FILE - JANUARY 7, 2015) (REUTERS) AIRBUS A350 ON TARMAC AIRCRAFT BODY READING (English) "QATAR" VARIOUS OF AIRBUS A350 ON TARMAC KUWAIT CITY, KUWAIT (FILE - JUNE 13, 2017) (REUTERS) VARIOUS OF QATAR AIRWAYS PLANE TAXIING ON TARMAC QATAR AIRWAYS PLANE PARKED AT TERMINAL LE BOURGET, FRANCE (FILE - JUNE 17, 2019) (REUTERS) QATAR AIRWAYS CHIEF EXECUTIVE, AKBAR AL BAKER, SPEAKING ON BOARD QATAR AIRWAYS PLANE BERLIN, GERMANY (FILE - MARCH 7, 2018) (REUTERS) VARIOUS OF QATAR AIRWAYS' AL BAKER BEING INTERVIEWED AL-BAKER'S HANDS, MOCK AIRPLANE
- Embargoed: 11th October 2021 16:11
- Keywords: Akbar al-Baker CEO Qatar Airways results
- Location: DOHA, QATAR / KUWAIT CITY, KUWAIT / LE BOURGET, FRANCE / BERLIN, GERMANY
- City: DOHA, QATAR / KUWAIT CITY, KUWAIT / LE BOURGET, FRANCE / BERLIN, GERMANY
- Country: Various
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001EWHURNX
- Aspect Ratio: 16:9
- Story Text: Qatar Airways Group on Monday (September 27) reported a doubling of annual losses to 14.9 billion riyal ($4.1 billion), hit by the COVID-19 collapse in long-haul travel and aircraft impairment charges.
The state-owned group, which includes the airline and other aviation assets, said it booked a one-off impairment of 8.4 billion riyal on its fleet 10 Airbus A380s and 16 A330s jets.
Its operating loss shrank 7% to 1.1 billion riyal.
Chief Executive Akbar Al Baker has cautioned that the A380s, the world's biggest passenger jet, may never return to the airline's operational fleet due to the impact of the pandemic.
The financial result for the year to March 31 compares with a 7.3 billion riyal loss in the year prior, which was also hit by a airspace ban by Saudi Arabia and others that ended in January.
(Production: Marissa Davison)
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