Qatar Airways reported a loss in the year that ended in March after a Saudi-led embargo against the Gulf nation sent operational costs higher.
The state-owned airline said it made a loss of 252 million riyals ($69 million) compared with a profit of 2.79 billion riyals a year earlier. Operating expenses increased to 42.2 billion riyals from 36.7 billion riyals last year.
Revenue, however, increased 7.4 percent to 42 billion riyals from 39 billion last year.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed their diplomatic and transport links with Qatar last year over Qatar’s alleged support for extremism, a charge Doha has repeatedly denied. The embargo forced the Doha-based carrier to cancel more than 20 routes and divert others.
©2018 Bloomberg L.P.