Qatar Airways received a 7.3 billion riyal (USD1.95 billion) lifeline from the Qatar government after losing 7 billion riyal in the year to March 31, the state-owned group disclosed on Sunday. A Qatar Airways aircraft takes off at the aircraft builder's headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. The lifeline was provided to Qatar Airways after annual losses exceeded 50 per cent of share capital and was later converted into new shares, said the airline’s financial statement. The true impact of the crisis on Qatar Airways is unclear as global lockdowns continued beyond its financial year-end. Air Italy, in which Qatar Airways held a minority stake, went into liquidation in February.

Source: Standard Digital September 28, 2020 08:01 UTC