July 16, 2018 / 3:47 PM / a month ago

Qatar Airways adapting to blockade, may not post a loss in current year

FARNBOROUGH, England, July 16 (Reuters) - The chief executive of Qatar Airways said the airline was adapting to a regional blockade that has prevented it flying some routes, and that those restrictions would not necessarily push it into the red for the current financial year.

“There is a possibility that we will post also a loss in our current financial year, but it’s only a possibly,” Chief Executive Akbar al-Baker told reporters at the Farnborough Airshow on Monday.

The restrictions mean the company is set to post a loss for the financial year ended March 2018, but the results have not been published yet. Al-Baker said these would be made public in the coming weeks.

He also said the airline was only moderately hedged on fuel and may need to hedge more in future as the price of oil rises. (Reporting by Sarah Young Editing by Victoria Bryan)

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