Qatar Airways post a loss due to high oil prices

Qatar Airways post a loss due to high oil prices
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Published September 18th, 2012 - 09:11 GMT via SyndiGate.info

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Qatar Airways CEO Akbar Al Baker revealed a financial loss for the airline
Qatar Airways CEO Akbar Al Baker revealed a financial loss for the airline
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Qatar Airways
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BAE Systems
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Akbar Al Baker

Qatar Airways, the Gulf state's rapidly growing flag carrier, made a small loss in the last financial year which ended in March because of high oil prices.

Qatar Airways, which is not listed on a stock market, does not regularly disclose its earnings.

The airline carried 14.3 million passengers last financial year, a number which is expected to increase to 17 million in the current year.

Qatar Airways' CEO, Akbar Al Baker, said the opening of the first phase of Qatar's planned $11bn new airport would be delayed until June next year after a contractor was dropped from the project. The airport was originally due to open this December.

Baker said that as a customer, he was in favour of a potential $45bn merger between Europe's EADS and BAE Systems to form the world's biggest aerospace and defence company. The firms revealed last week that they were in talks on a merger.

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© 2012 CPI Financial. All rights reserved.

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