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)