Bail out for Qatar Airways as it reports a loss for FY2019-20

Qatar Airways has reported a net loss of QAR 7 billion (approx. $1.86bn) for the fiscal year (FY) 2019-20. The airline states that without the impact of the ongoing illegal air space blockade against the State of Qatar, the liquidation of Air Italy by the majority shareholder, changes to accounting policy and reporting standards and the COVID-19 pandemic crisis, it had been on target to post improved annual results with the Group’s overall revenue and other operating income rising by 6.4% to QAR 51.1 billion. Passenger revenue grew by 8.9% with capacity up by 3.2%. Qatar Airways carried 32.4 million