Qatar Airways post a loss due to high oil prices
Qatar Airways CEO Akbar Al Baker revealed a financial loss for the airline
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.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?