In addition to the COVID-19 crisis, Qatar has also passed through Bahrain, Egypt, Saudi Arabia and the United Arab Emirates in a boycott since June 2017.
The long-distance airline Qatar Airways reported on Sunday profit losses of $1. 9 billion for the following year, blaming the coronavirus pandemic, its liquidation of Air Italy’s shares and Doha’s ongoing boycott across 4 Arab countries for the decline.
The public operator also blamed the new accounting regulations for the additional losses expanding for the following year, which ended on March 31.
“Without the cases of fiscal year 2020, our effects would have been greater than last year,” Qatar Airways CEO Akbar al-Baker said in a statement.
He also withdrew his losses last year in Sunday’s monetary report, reaching nearly $1. 3 billion of $639 million in the reported past. He lost $69 million in 2018.
The coronavirus pandemic has disrupted global aviation for months and is just beginning to recover. Qatar has also been the target of a boycott across Bahrain, Egypt, Saudi Arabia and the United Arab Emirates since June 2017.
This boycott continues today, despite efforts by other Gulf Arab countries and the United States to reconcile the countries involved in the political dispute.
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