Qatar Airways, the Gulf state's rapidly growing flag carrier, made a small loss in the last financial year which ended in March because of high oil prices, its chief executive said on Monday.
"We had a very small loss because of the huge increase in oil price," Akbar al-Baker told reporters.
"Profit on an EBITDA (earnings before interest, taxes, depreciation and amortisation) level was 47 percent above the previous year, but on a net level we made a small loss. For the 2010-2011 financial year, we made a substantial profit."
He did not elaborate. Qatar Airways, which is not listed on a stock market, does not regularly disclose its earnings.
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