Qatar Airways will save $ 1.2 billion after reconciling the Gulf
Qatar Airways has said it will reduce its operating costs, as flights are no longer banned in airlines in Saudi Arabia, the UAE, Egypt and Bahrain.
Qatar Airways CEO Akbar al-Baker has announced that the airline's operating costs will be reduced by $ 1,2 billion following the reconciliation in the Gulf, reported the Anadolu news agency.
"The reopening of airspace after the reconciliation of the Gulf will have a positive impact on the company's financial performancei ”, al-Baker told state television.
On January 4, 2021, Saudi Arabia and Qatar have reached an agreement to open airspace, maritime and land for the first time after a three-year blockade. Sanctions on Qatari aircraft, known as Gulf blockade, were imposed after Qatar was accused of supporting terrorism by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt in June 2017.
The Gulf blockade had significantly changed the flight operations of the national air carrier in Qatar. For Qatar Airways, flight time and distance have increased due to the necessary detours.
With regard to the financial losses caused by the Gulf blockade, Qatar Airways claimed compensation from four blocking states in July 2020. The request was based on ICAO agreements that have been signed in the past regarding airspace. The International Court of Justice (ICJ) has ruled in favor of Qatar in the Gulf airspace blockade dispute.