Qatar Air Loss Spirals as Cost Surge Compounds Saudi Embargo
- Qatar Airways reported a near ten-fold increase in annual losses as higher fuel costs and a weaker regional economy compounded an already tough operating environment from Saudi-led airspace closures. The loss for the 12 months through March swelled to 2.33 billion riyals ($637 million) as currency fluctuations and the increased kerosene bill led costs to outstrip an advance in revenue, the company said in a statement Wednesday. Chief Executive Akbar Al Baker said the figures were disappointing, but that the company faces challenges ...
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