Qatar Airways Reports Approximately 5 Trillion KRW Loss Over One Year Due to COVID-19 Impact

[Asia Economy Reporter Buaeri] Qatar Airways suffered losses close to 5 trillion won over one year due to COVID-19.

According to Bloomberg News, Qatar Airways stated in a press release on the 28th that its operating loss from March 31 last year for one year amounted to $4.1 billion (approximately 4.8 trillion won).

The state-owned Qatari airline said the losses increased as 10 large aircraft A380s and some medium-sized passenger planes were grounded.

Qatar Airways plans to receive government support of $3 billion (approximately 3.5 trillion won) this year to cover these losses.

The airline also received $2 billion (approximately 2.3 trillion won) in government aid last September.

Akbar Al Baker, CEO of Qatar Airways, said in a statement, "It has been a difficult year. We continuously responded to changing travel restrictions and did not stop commercial operations."

CEO Al Baker explained that normal operations before COVID-19 may not be restored until 2024 and that the airline may proceed with phasing out the A380 model.

Currently operating 140 international routes, Qatar Airways is one of the largest airlines in the Middle East along with Emirates Airlines.