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Qatar Airways prepares to reveal 'substantial' loss
26 APRIL, 2018 SOURCE: FLIGHT DASHBOARD BY: TOLGA OZBEK Qatar Airways chief executive Akbar Al Baker has disclosed that the airline made a "substantial" full-year loss, the extent of which will be revealed in about a month's time. Speaking during the Eurasia air show in Antalya, Al Baker said other parts of the Qatar Airways group business were profitable but not to the degree that they could make up for the airline's deficit. He says the results for the financial year,… (www.flightglobal.com) More...
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One does not have to be a Harvard MBA with a decade long experience at a top hedge fund or private equity firm in Wall Street of the City to know that every, repeat every airline based in the Arab Emirates just can not generate enough trafic to support the incredible investments made in hundreds of top of the line airliners both Boeing and Airbus. Over the past 3-4 years they started to "feel the heat" and began instituting measures by forcing pilots to fly longer hours than the ICAO allows for. Then the good managers decided to ram more passengers in the jets reducing rows pitch so that more paying "sardines" are flying. There are rumours that while they were very safety concious, they are skimping certain milestones that require inspection, evaluation and if necessary spare parts replacement. It is true that on board service is the best in the business in First and Business but in the back they are really bad all in order to save money. Sooner or later they had to face the music and with that order cancellations of scores of new jets might be next.
