Qatar Airways announces financial loss

Old Mar 7, 18, 10:56 am
  #1  
Suspended
Original Poster
 
Join Date: Oct 2017
Location: AUH
Programs: EY Guest Gold, Hilton HHonors Gold, Le Club Accor Silver, AAdvantage Gold
Posts: 552
Qatar Airways announces financial loss

http://gulfnews.com/news/gulf/qatar/...loss-1.2184359

Last edited by msm2000uk; Mar 7, 18 at 1:09 pm Reason: Create Hyperlink
DatBoi is offline  
Old Mar 7, 18, 11:12 am
  #2  
 
Join Date: Jun 2012
Location: Brooklyn, NY
Posts: 763
Is anyone surprised by this?
MattEvan is offline  
Old Mar 7, 18, 1:10 pm
  #3  
Moderator: Qatar Airways
 
Join Date: Jan 2014
Location: LHR/NCE/DOH
Programs: BAEC GfL & GGL, QR Insider, SQ Gold, Mucci des Chevaliers des Bons Mots et Qui Savent Moucher
Posts: 7,918
Under FT Rules, could the OP please give a brief summary of the article without users having to click on the link.

M
msm2000uk is offline  
Old Mar 7, 18, 1:16 pm
  #4  
 
Join Date: Nov 2014
Posts: 935
There isn't actually anything of substance in the article.
strichener is offline  
Old Mar 7, 18, 1:19 pm
  #5  
 
Join Date: Jun 2012
Location: Brooklyn, NY
Posts: 763
Reuters: Qatar Airways to report very large loss for current fiscal year: CEO (https://www.reuters.com/article/us-q...-idUSKCN1GJ1VJ)

HE AAB: “We will announce a very large loss during the current financial year which ends this month [March 31],” he said, without giving further details.

HE AAB: QR may need to appeal to state for cashflow.

Last edited by MattEvan; Mar 7, 18 at 1:22 pm Reason: Removed snarky comment.
MattEvan is offline  
Old Mar 7, 18, 1:25 pm
  #6  
 
Join Date: Nov 2014
Posts: 935
Originally Posted by MattEvan View Post
Reuters: Qatar Airways to report very large loss for current fiscal year: CEO (https://www.reuters.com/article/us-q...-idUSKCN1GJ1VJ)

HE AAB: “We will announce a very large loss during the current financial year which ends this month [March 31],” he said, without giving further details.

HE AAB: QR may need to appeal to state for cashflow.

No substance here, indeed.
Yes but that isn't the article that the OP linked to. However, even your own article actually states:

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.
strichener is offline  
Old Mar 7, 18, 1:28 pm
  #7  
 
Join Date: Jun 2012
Location: Brooklyn, NY
Posts: 763
Originally Posted by strichener View Post
Yes but that isn't the article that the OP linked to. However, even your own article actually states:
That's why I edited my post. You have my deepest apologies, I was wrong.
MattEvan is offline  
Old Mar 7, 18, 2:50 pm
  #8  
 
Join Date: Jan 2005
Location: Europe
Programs: UA:1K MM, AF:FB-Gold, QR: PC Platinum, FI: Saga Gold
Posts: 2,743
I wouldn’t worry too much - QR is the pride of a VERY rich country...

Quote from article:

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.
Braniff is offline  
Old Mar 7, 18, 2:56 pm
  #9  
 
Join Date: Jun 2003
Location: SFO, CDG, TLS
Programs: QR P, LH Proud to be a one Star Negative Blue, Hilton Gold, GHA Black, WOH something
Posts: 1,283
Confirm as to why there has been a few enhancements in the last couple of months....
synd is offline  
Old Mar 7, 18, 2:56 pm
  #10  
 
Join Date: Sep 2015
Posts: 793
Indeed, making a loss isn't the same as being in trouble
Johnnieboy is offline  
Old Mar 7, 18, 3:04 pm
  #11  
 
Join Date: Sep 2015
Programs: LH SEN; BA Gold
Posts: 8,364
Originally Posted by Johnnieboy View Post
Indeed, making a loss isn't the same as being in trouble
I'd expect the loss to be lower in the upcoming FY given that there's no longer an element of surprise requiring them to rebook thousands of passengers to KWI, MCT, etc. and from there onto other carriers.
WorldLux is offline  
Old Mar 7, 18, 5:43 pm
  #12  
 
Join Date: Jun 2003
Location: SFO, CDG, TLS
Programs: QR P, LH Proud to be a one Star Negative Blue, Hilton Gold, GHA Black, WOH something
Posts: 1,283
Originally Posted by WorldLux View Post
I'd expect the loss to be lower in the upcoming FY given that there's no longer an element of surprise requiring them to rebook thousands of passengers to KWI, MCT, etc. and from there onto other carriers.
Nonetheless the DXB/AUH flights were pretty full most of the time, and probably helped filling up the LH flights out of DOH too.
synd is offline  
Old Mar 7, 18, 5:53 pm
  #13  
 
Join Date: Sep 2015
Programs: LH SEN; BA Gold
Posts: 8,364
Originally Posted by synd View Post
Nonetheless the DXB/AUH flights were pretty full most of the time, and probably helped filling up the LH flights out of DOH too.
I didn't say that the loss would disappear but rather that the loss will be lower. QR lost a massive customer base but it's not going to cost them tons of money to rebook existing bookings. This time last year, they had thousands of passengers booked on flights that would be cancelled. Can't imagine that it was cheap rebooking passengers.
WorldLux is offline  
Old Mar 7, 18, 7:45 pm
  #14  
 
Join Date: Sep 2016
Posts: 776
There you have it, QR doesn't receive subsidies, all they get is equity. I bet he could give a lengthy explanation for what the difference is for a state owned company.
Honestly, I don't really care much about the whole subsidy debate, I am just amused about the lengths that involved parties go in order to not use that term.
makrom is offline  
Old Mar 7, 18, 11:19 pm
  #15  
 
Join Date: Jan 2015
Location: Tokyo
Programs: SPG LT Plat ANA Plat
Posts: 596
Originally Posted by makrom View Post
There you have it, QR doesn't receive subsidies, all they get is equity. I bet he could give a lengthy explanation for what the difference is for a state owned company.
Honestly, I don't really care much about the whole subsidy debate, I am just amused about the lengths that involved parties go in order to not use that term.
100% agree, just like the US airlines dont get help from the shareholders, just the people they owe money too under Chapter 11 and of course the tax benefits. ALL airlines get subsidies one way or another, as do many , many companies as the recent tax changes in the US prove
BRITINJAPAN3 is offline  

Thread Tools
Search this Thread
Search Engine: