Egypt admits 'heavy losses' resulting from Qatar blockade

The chairman of EgyptAir, Ahmed Adel, announced on Monday “heavy losses” following the country’s participation in the Gulf blockade, which has been imposed on Qatar for the second year in a row.

“The cessation of our [EgyptAir] flights to the Qatari capital of Doha has incurred heavy losses on the company,” Adel said in a meeting with the Egyptian parliament’s tourism and civil aviation committee.

He added that the recent events in Syria and Libya have “negatively” affected the national carrier’s annual sales.

Adel did not provide details on the value of the losses.

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“More than 50 per cent of the tickets’ fares are being obtained by the state’s tax authority,” the national airline’s president pointed out.

“It’s unfair to compare EgyptAir tickets’ prices to other international competitors, especially those who are being supported by their governments,” Adel stressed.

In June 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed ties with Qatar and imposed a complete blockade on Doha accusing it of “supporting terrorism.” Qatar vehemently denies the allegations. Numerous international governments, including the United States, have warned of the blockade’s impact on the region’s stability.