Qatar Airways already Reported Its results for the 2019-2020 financial year, as you might expect, make the situation rough. Airlines lost three times as much money as last fiscal year Otherwise the year of breaking the record of losses.
Qatar Airways reports $ 1.92 billion loss
Qatar Airways reported a net loss of $ 1.92 billion last fiscal year. Last year, it was $ 639 million. The airline points out that the results “highlight the resistance of the airline group” during “the most challenging period in the history of global aviation”.
Qatar Airways explains that the last financial year was one of the most difficult in the history of the carrier for various reasons:
With the exception of these unusual items (small details!), The airline indicates that the results on operating and net levels will be better than those reported in the previous year.
That sounds like a weird argument. The airline also faced a Gulf embargo last year, so removing the Gulf embargo from this year’s equation would be good, but not the previous year, right?
Earlier this year, Air Italy was liquidated
The Qatari government injected $ 2 billion into the plane
The Qatari government has also revealed that the airline is “moving forward” with about $ 2 billion.
To recoup, the government already owns 100% of the stock, which the airline “advanced” to $ 2 billion, converting into more shares? So the government’s stake in the airline went from 100% to 100%?
To be clear, I am not splitting Qatar Airways to get government money here. After all, US Airlines received $ 25 billion in salary support. Rather I am interested in economics.
The Qatari government has given $ 2 billion to airlines
This is the tip of the iceberg of Qatar Airways’ loss
It should be noted that the financial year ended March 31, 2020. Global aviation ceased operations only in the second half of March. Therefore, there is no doubt that Qatar Airways’ operations in China and beyond have been affected, and I expect the results to be worse in the coming financial year.
Expect the results for the next financial year to be much worse
Improved ways of performing Qatar Airways
In what ways has Qatar Airways’ performance improved over the past financial year?
- Operating income rose 6.4 percent to $ 14 billion
- Passenger revenue increased by 8.9% and capacity increased (based on available seat kilometers) by 3.2%.
- The airline carried 9.8 per cent more passengers for a total of 32.4 million passengers
Qatar Airways CEO Akbar Al Baker describes the results:
Qatar Airways Group reports strong fundamentals despite the key challenges our group faces in 2019-20. Were it not for the extraordinary circumstances of the 2020 financial year, our results would have been better than the previous year. ”
Qatar Airways earned the best revenue
The focus will be on Qatar Airways A350 and 787
The airline highlights how it flies across the Pandemic:
- Qatar Airways’ network never drops below 30 destinations, and the airline has rebuilt its network to more than 90 destinations with 650 weekly flights.
- From April to July 2020, Qatar Airways became the largest international airline
- The airline currently focuses on A350 and 787 aircraft A380 grounding
Operates on Qatar Airways A350 and 787
Qatar Airways reported a net loss of more than $ 1.9 billion in the last fiscal year. The loss was three times higher than last year. This is due to the Gulf blockade, the withdrawal of Air Italy from business, and the corona virus pandemic (although the financial year ended in March, there are still losses).
Some basic operating statistics for Qatar Airways look great, so let the airline go for it. I have a curious amount to see what Qatar Airways will look like next financial year.
Are you surprised by the results of Qatar Airways?
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