The company incurred a total loss of $4.1 billion in the year ended March 31, double the amount from the same period last year.
Excluding the cost of stopping Airbus A380 and A330 flights, Qatar Airways recorded an operating loss of $228.3 million, compared to $310 million in the previous year.
The airlines reported a slight increase in total revenue and a 4.6 percent rise in air freight volumes in the last 12 months.
The Qatari government, like many governments, intervened to support its national carriers during the closure measures to limit the pandemic, which dealt a severe blow to the international travel and aviation sector.
In September 2020, the airlines announced that it had received government aid of two billion dollars, after its annual losses exceeded 50 percent of its share capital.
Its CEO, Akbar Al Baker, said in a statement: “At a time when many competing companies have taken the decision to stop operations of their aircraft and suspend their flights to most of their destinations, we in Qatar Airways have developed our entire commercial operations to suit the restrictions imposed on travel, and we have been keen to continue our flights.” .
He added, “While the group did not receive any support in the form of salaries or grants, the Qatari government, the owner of the group, injected capital worth 11 billion Qatari riyals (3 billion US dollars) to support the continuity of our business.”
And the results announced, on Monday, are the first for a full year since the boycott of Qatar by the Emirates, Saudi Arabia, Bahrain and Egypt was turned.
Saudi Arabia, along with its allies Bahrain, the UAE and Egypt, severed relations with Doha in June 2017, after it was accused of being close to Iran and supporting extremist groups, which Qatar denied.
But in January, these countries agreed to restore relations with Qatar after diplomatic efforts by the administration of former US President Donald Trump.
Qatar Airways is the second largest airline in the Middle East after Emirates Airlines. It operates a fleet of 253 aircraft, knowing that the majority of them are still parked since the beginning of the pandemic, according to AFP.