Qatar Airways pays the price for suspected terrorism

File: Qatar Airways may not land in Saudi Arabia, the United Arab Emirates, Egypt or Bahrain. Photo: AFP Photo/Eric Cabanis

JOHANNESBURG - Qatar Airways has warned its shareholders that it will report a loss in earnings at the end of the month.

The airline says this is due to a regional political dispute that has led to it being slapped with restrictions.

Qatar Airways lost access to 18 cities in Saudi Arabia, the United Arab Emirates, Egypt and Bahrain in June, when those four countries cut ties with Qatar after accusing it of supporting terrorism.

READ: Qatar 'thousand times better off' without Gulf allies: emir

The restrictions, which include a ban on using airspace over the four countries, have put financial strain on the airline.

Qatar Airways CEO Akbar Al-Baker said the results will not be good due to the extra flying time, the increase in operational costs, and increased use of airplanes.

"We will post a loss for our year ending 31 March."


 

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