Cargo business saves Qatar Airways Group
Qatar Airways Group has reported a net loss of USD 4.1 billion. Despite the difficulties posed by the ongoing pandemic, the group's operating results demonstrated its resilience during the crisis, since, at USD 288.3 million, the reported operational loss of was 7% below 2019/20.
Furthermore, the group achieved a significant improvement in ebidta, which stood at USD 1.6 billion compared to USD 1.4 billion the previous year.
A combination of the group’s commercial adaptability and its freight division is said to have been at the core of this recovery. Qatar Airways Cargo maintained its position as the world’s largest cargo carrier, handling 2,727,986 t (chargeable weight), 4.6% more than in the previous fiscal year. This increase in freight handled, as well as a significant rise in cargo yield, also saw the carrier’s cargo revenues more than double (USD 5 billion). (ah)