Coronavirus: Qatar Airways Revenue Drops 80%

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Qatar Airways Chief Executive Officer Akbar Al Baker said many airlines will go bust as the coronavirus outbreak ravages demand for travel, limiting the scope for takeovers.

While the Gulf carrier is open to acting on any investment opportunities that present themselves, the pandemic is likely to lead to the immediate collapse of some operators, Al Baker said Thursday on Bloomberg Television.

The CEO said Qatar Airways, which is state owned, will seek government support alongside all other airlines, and that the crisis should end conflict between carriers over whether some have benefited from illegal subsidies.
Al Baker said that though revenue has dropped 80 percent as the coronavirus spreads, Qatar Airways is planning no further traffic cuts. The carrier is operating around one-third of its usual schedule – whereas Mideast rivals Emirates and Etihad have completely terminated passenger flights.

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