Aviation
Commercial /
Asia
Outcome of the pandemic
With stoppages of its A350 and A380, Qatar Airways shows losses of up to 4.1 billion dollars
Airbus A350
Qatar Airways
Pedant01, CC BY-SA 4.0, via Wikimedia Commons
Airbus A350
Qatar Airways
Pedant01, CC BY-SA 4.0, via Wikimedia Commons
Rafael Ramos
9/28/2021
Qatar Airways published, on Monday (27), the annual report for the fiscal period 2020/2021 and showed a loss of more than 4 billion dollars, as the demand for flights decreased greatly due to the limitations imposed by the pandemic of coronavirus. In contrast, the operating loss was US$288.3 million, 7% less than the last fiscal period of 2019/2020.
The airline has had most of its losses ($2.3 billion) attributable to the retirement costs of its Airbus A350 and A380 jets. However, the company reported an increase in revenue to $1.6 billion before tax. This is due to the savings that the company made with fuel, a 15% reduction in wages and about 13,400 employees cut from the workforce.
The company's cargo division, Qatar Airways Cargo, maintained its place as the world's largest cargo airline and increased its market share. An increase of 4.6% in tons of cargo transported was also registered, with 2,727,986 tons transported in 2020/2021. These numbers were responsible for doubling the carrier's revenue.
“While our competitors landed their aircraft and closed their routes, we adapted our entire commercial operation to respond to increasing travel restrictions and never stopped flying,” Qatar Airways CEO Akbar al-Baker said in a statement.
The company received $3 billion in government aid. In absolute numbers, the company transported just 5.8 million passengers in the last fiscal year, compared to 32.3 million in the year before the pandemic, representing an impressive 82% drop.
“There are three words that I think best describe Qatar Airways Group's response over the past year: strength, resilience and commitment. Strength not to shirk risk or avoid difficult decisions, resilience to stay focused and not allow events to surprise us, and commitment to deliver on our promises to customers, partners and employees.
From 33 destinations at the height of the pandemic, the airline now flies to more than 140.
Airbus A380
Qatar Airways
Joshua Doubek, CC BY-SA 4.0, via Wikimedia Commons
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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