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Qatar Airways' loss reaches $ 639 million in three months


Qatar Airways said on Wednesday its losses worsened to $ 639 million in the last fiscal year ending March 2019.

The company recorded losses of $ 69 million in the fiscal year ending March 2018.

The company said in a statement that the last fiscal year was full of challenges, most notably the loss of mature roads, high fuel costs and foreign currency fluctuations.

The Group's total revenue grew by 14 percent annually, passenger revenue grew by 14.3 percent, and freight revenue by 16.8 percent.

"It was a year of achievements in the face of adversity on Qatar Airways ... despite the unprecedented challenges in the aviation industry," said Qatar Airways Group Chief Executive Officer Akbar Al Baker.

A crisis that began on June 5, 2017, after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed ties with Doha on the grounds of “supporting terrorism,” is strongly denied by Qatar.

The boycott caused the disruption of dozens of Qatar Airways in Saudi, UAE and Bahrain airspace, prompting them to search for alternative routes and cancel other.