Qatar Airways Group has released its annual report 2018-2019, saying it highlights the Group's strong financial situation and its ability to withstand the current blockade of Qatar's airspace.

The Group's total revenue grew 14% to 48 billion riyals ($ 13.2 billion), while Qatar Air Cargo became the world's largest air cargo company, the group said in a statement.

'The fiscal year 2018-2019 was a year of success for Qatar Airways, and despite facing unprecedented challenges in the global aviation industry,' said Chief Executive Officer Akbar Al Baker. We have also increased passenger numbers and capacity, while Qatar Air Cargo is now the world's largest air cargo company. ”

Challenges
"Despite these achievements and successes, we have faced many challenges and difficulties affecting our financial results, recording a net loss of 2.3 billion Qatari riyals ($ 639 million)."

He attributed this to the loss of high-demand destinations, high fuel prices and exchange rate fluctuations.

Al Baker: The foundations of our work are still very strong (European)

Here is a list of the main results recorded by Qatar Airways Group during the fiscal year 2018-2019:

New destinations
- Qatar Airways launched 11 new destinations in 2019.

- The airline has added 31 destinations to its global network since the blockade began in June 2017 and until September 1.

- The number of destinations operated by Qatar Airways has increased to more than 160 destinations worldwide.

- Qatar Airways has added 25 new aircraft to its fleet, reaching 250 aircraft.

- The company has more than 300 aircraft on demand, worth more than $ 85 billion.

Additional investments
- Qatar Airways acquired 5% of the total announced capital of China Southern Airlines.

- The Group has investments in international airlines such as Air Italy, Cathay Pacific, International Airlines Group, Jet Sweet and Latam.

- Qatar Airways Group's total investments amounted to 16.1 billion riyals ($ 4.4 billion) in aircraft and other assets, such as global carriers, in the 2018-2019 fiscal year.