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Revelation
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Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 8:13 pm

Doesn't give a number, though..

Article also says:

When asked if it was running short of cash, Baker said in an interview with Reuters TV that Qatar Airways may need to call on its state owners for extra funds should the blockade continue. “Not for the foreseeable future, but if it continues long term our shareholders will have to put additional equity into the company,” he said.

Ref: https://www.reuters.com/article/us-qata ... SKCN1GJ1VJ says:
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KarelXWB
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 8:18 pm

Yes Al Baker warned about a loss couple months ago. It was expected. QR claims it lost 20% of its revenue due to the blockade.

Revelation wrote:
Doesn't give a number, though..


Because the report has not been released yet.
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 8:27 pm

KarelXWB wrote:
Because the report has not been released yet.

Sure, but I bet he knows what the number is! :D

This statement seems to be a standard "preparing the ground" statement before the report is released.
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KarelXWB
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 10:42 pm

Al Baker also believes Chapter 11 would be an "luxery" to have.

Or he just saw an opportunity to throw some mud at the US3.

He adds: "Unfortunately, we do not have the luxury of Chapter 11 [US bankruptcy protection] so we have to persevere and find additional financial streams and investments, in order to continue our expansion even under the loss."


https://www.flightglobal.com/news/artic ... ay-446555/
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TC957
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 10:53 pm

I can see EY and EK lobbying their governments to have this blockade maintained. They must be happy seeing it bleed QR like this.
 
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scbriml
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 10:58 pm

TC957 wrote:
I can see EY and EK lobbying their governments to have this blockade maintained. They must be happy seeing it bleed QR like this.


Quite the opposite, I would have thought. The Qataris are more likely to feel justified in continuing to throw money at QR if they see it being attacked by external forces.
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Arion640
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Wed Mar 07, 2018 11:17 pm

TC957 wrote:
I can see EY and EK lobbying their governments to have this blockade maintained. They must be happy seeing it bleed QR like this.


Yes and No. Qatar Airways is owned by the Qatari government so as long as the money keeps flowing they are virtually impossible to get rid of.
 
Kashmon
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Thu Mar 08, 2018 12:03 am

TC957 wrote:
I can see EY and EK lobbying their governments to have this blockade maintained. They must be happy seeing it bleed QR like this.

and Qatar is making sane investments in well run airlines like BA/IB/CX
and preparing for Alitalia's downfall


EY is going to die soon
and EK will soon die as well because Dubai refuses to build the mega airport ( had the mega airport been constructed by 2016- QR and EY would have already been toast but EK seems hell bent on declining in the 2020's)
 
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Thu Mar 08, 2018 1:54 am

Kashmon wrote:
TC957 wrote:
I can see EY and EK lobbying their governments to have this blockade maintained. They must be happy seeing it bleed QR like this.

and Qatar is making sane investments in well run airlines like BA/IB/CX
and preparing for Alitalia's downfall


EY is going to die soon
and EK will soon die as well because Dubai refuses to build the mega airport ( had the mega airport been constructed by 2016- QR and EY would have already been toast but EK seems hell bent on declining in the 2020's)

Why would EK die? Dubai lacks the funds for DWC. I see a rough year, but I see no reason to be pessimistic.

Fly Dubai will have to do more expansion at DWC, :yawn:

QR is as ready to implode as EY. What Doha and Abu Dhabi didn't do is make it so expatriates want to live there (supermarkets, bars). Dubai's main issue is housing prices.

EK and Dubai might be bankrupt now if DWC had been finished say 3 years ago. Instead, EK was forced to cut expansion just as the market tanked. It is better to be lucky than good.

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planemanofnz
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Re: Qatar Airways to report very large loss for current fiscal year: CEO

Thu Mar 08, 2018 1:55 am

Kashmon wrote:
EK will soon die ...

That's cute, but while QR tries to squeeze dollars and cents out of these bizarrely under-developed places like Davao (if they are ever launched - think Las Vegas), EK will be making millions with its superior traffic rights - think Australia, where QR cannot launch Brisbane, has had to launch Canberra just to get bigger at Sydney, and maintains a paltry 1x A380 flight each day to Sydney and Melbourne (while EK has at least 3x - 4x A380 fights each day).

Cheers,

C.

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