20-Apr-2011 12:52 PM

Qatar Airways fails to meet 1Q2011 targets due to unrest

Qatar Airways CEO Akbar Al Baker stated 1Q2011 passenger numbers have missed the company's target by 3% and revenue is down 6% due to unrest in Middle East/North Africa (Dow Jones Newswire, 19-Apr-2011). Passenger numbers are "lower than our target by 3%," Mr Al Baker said, although he stated volume was higher than in Mar-2010. He also cautioned that "if the conflict continues we will be affected further". The CEO also stated that in the 12 months to 31-Mar-2011 (2009-10 financial year), the carrier reported a net profit of USD205 million, with net profit expected to be "very healthy" in 2010-11.