September 19: Qatar Airways’ overall revenue and other operating income grew 7.22 per cent annually compared to capacity (available seat kilometres) growth of 9.96 per cent, states the annual report for 2017/18 of the airline company.

According to the airline company, the lower revenue growth was directly attributable to the illegal blockade of the Gulf state by its neighbours since June 5, 2017, which impacted departing seats by 19 per cent.

The airlines company said in a statement that its cargo revenue witnessed very impressive growth of 34.40 per cent against cargo capacity (available tonne kilometres) growing 13.95 per cent annually.

The airline company said it generated EBITDAR Margin of 23.0 per cent at QAR 9.714 billion. EBITDAR was lower than the previous year by QAR 1.759 billion due to longer flying time resulting from the illegal blockade and loss of departing seats from the blockading countries. 

“Replacing 18 mature routes, which were closed due to the illegal blockade, the airline opened 14 new destinations during the fiscal year (24 new destinations to date). New destinations come with launch costs and the necessity to establish market presence, which resulted in an overall net loss of QAR 252 million. With a positive operating cash inflow, the cash position of the Group remained strong at QAR 13.312 billion,” the statement said.