Qatar Airways reports reduction in operational loss

Doha: Qatar Airways Group has today published its Annual Report for 2020/21, covering a challenging year with the ongoing COVID-19 pandemic causing extensive loss of traffic and revenues as part of a pattern seen across the global aviation industry. 

Qatar Airways Group reported a net loss of QR14.9 billion ($4.1 billion), of which QAR8.4 billion  ($2.3 billion) is due to a one-time impairment charge related to the grounding of the airline's Airbus A380 and A330 fleets. Despite the difficulties posed by the ongoing pandemic, the Group's operating results demonstrated its resilience during the crisis, with the reported operational loss at QR1.1 billion ($288.3 million) 7 per cent less compared to 2019/20. Furthermore, the Group achieved a significant improvement in EBITDA, which stood at QR6 billion ($1.6 billion) compared to QR5 billion ($1.4 billion) the previous year.

The Group’s freight division, Qatar Airways Cargo, maintained its position as the world’s largest cargo carrier and grew its market share during 2020/21. During the pandemic’s peak, Cargo more than tripled its daily services, operating a record 183 flights in one day during the month of May 2020.