For the financial year 2019-2020, Qatar Airways set a record-breaking loss of $1.9+ Billion.
It lost triple the amount of money it did in the previous year which was itself a record.
The airline had a $639 million loss.
Record Breaking Loss For Qatar Airways
Last year wasn’t the best year for Qatar Airways.
But when all thought that was the most challenging year, here comes 2020 that proved us all wrong.
Qatar Airways lost a staggering $1.9+ Billion for the financial year 2019-2020.
This major shortfall was caused by various reasons:
One, is the ongoing Gulf blockade which restricts Qatar Airways from using the airspace of the neighboring Gulf states.
Next, is the liquidation and suspension of flight operations of Air Italy where Qatar Airways was a minor stakeholder.
Then, of course, the COVID-19 outbreak which only exacerbated their financial woes.
However, this doesn’t seem to be the worst still.
The last financial year ended on March 21, 2020.
The full impact of the pandemic on flights wasn’t felt until the second half of March.
So, much worse results could be expected for the next financial year where the effect of the pandemic will be in full blast.
But Qatar Airways doesn’t seem to falter.
It still continues to operate flights throughout the pandemic and showed magnificent resilience.
Between April to July 2020, the airline rose to being the largest international airline in the world.
Its network never went below 30 destinations, and expanded with 650 weekly flights to over 90 cities.
Unfortunately though, Qatar Airways also had to furlough thousands of their staff and perhaps more to follow if the effect of this pandemic on air travel persists.
Photo Credit: Spencer