Qatar Airways received state support worth 7.3 billion riyals ($ 1.95 billion) after the company's losses reached 7 billion riyals during the fiscal year ending on 31 March.
According to Reuters, the Qatari government provided support to Qatar Airways after March when its annual losses exceeded 50 percent of the capital, according to the group's annual financial statement, and the support was transferred. Subsequently, cash to new shares.
The airline, which cut jobs and postponed receiving new aircraft due to the pandemic, announced in March that it would seek support from the state after the Coronavirus crisis affected Gaza World Travel, but has not previously revealed the size of the funding.
Qatar Airways said that the fiscal year 2019-2020 was one of its most difficult years in three decades, as its losses increased after the previous year's losses amounted to 4.5 billion riyals. / p>
The company witnessed an increase in revenues by 6.5 percent to 51.1 billion riyals, and the number of passengers on its flights increased ten percent to 32.4 million.
The real impact of the pandemic on Qatari lines is still unclear, in light of the continuation of measures to contain the virus after the end of the company's fiscal year in March.
The Qatar Airways Group includes the airline, management of Qatar International Airport, and other aviation assets.
and since mid-2017, the airline has been banned from using the airspace of Saudi Arabia, the UAE, Bahrain and Egypt due to a regional political conflict, forcing Qatar Airways flights to take longer routes.
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Air Italy, in which Qatar Airways owns a minority stake, went into liquidation in February.
