* The national carrier reports a net loss of QR14.9bn but higher EBITDA of QR6bn in 2020/21
Qatar Airways Group reported a net loss of QR14.9bn in 2020/21, of which QR8.4bn was due to a “one-time impairment charge” related to the grounding of the airline’s Airbus A380 and A330 fleets.
Qatar Airways Group on Monday 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.
“Despite the difficulties, Qatar Airways Group proves that rising to the challenge is nothing new for the airline and its subsidiaries, projecting the Group’s strength, resilience, and commitment,” the report said.
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 QR1.1bn, 7% less compared to 2019/20.
Furthermore, the Group achieved a significant improvement in EBITDA, which stood at QR6bn compared to QR5bn in the previous year.
“A combination of Qatar Airways Cargo division and the Group’s commercial adaptability have been at the core of this recovery,” the airline said.
The flexibility and ingenuity of the Group’s commercial strategy played a pivotal role in significantly increasing its market share, enabling the business to expand its focus from its mission of ‘getting people home’ at the height of the pandemic, to playing an industry-leading role in rebuilding passenger confidence in the safety of air travel during the most critically-adverse market conditions in the history of commercial aviation.
Whilst, the 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 May 2020.
Cargo…