Qatar Airways losses millions of dollars because of the Arab Boycott

Qatar Airways has revealed its millions of dollars losses as the airline reeled from the effect of the four countries (Egypt, the United Arab Emirates, Saudi Arabia and Bahrain) blockade on the state.

The above mentioned countries blockade on Doha because of its financial and logistical assistance to terrorist groups, led by the Muslim Brotherhood.

The company’s financial report for the year 2017-2018, reported that airlines lost about 23% of the annual profits; as the company adopts longer flights that consume more fuel, as well as the new air points that cost a lot of expenses.

The company added that its earnings were affected by longer flight times, the result of airspace restrictions arising from the boycott, and that it had to close 18 mature routes after its operations to the states involved were banned.

Qatar Airways Chief executive Akbar Al Baker said the Arab boycott and closing of the air space had contributed to the disruption of the company’s financial statements and had a negative impact on the sector’s profits and had lost about $ 69 million.

On June 5, 2017, Egypt, Saudi Arabia, the United Arab Emirates and Bahrain decided to cut off diplomatic relations and close airspace with Qatar because of their continued support for terrorism and extremist groups.

Other countries have also joined the boycott, such as Yemen, the Comoros and the Maldives, as well as reducing the diplomatic representation of other countries such as Djibouti and Jordan.