Qatar Airways announces $69 million revenue loss this year

DUBAI: Qatar Airways says it suffered a $69 million loss this year off revenue of $11.5 billion amid a boycott of Doha by four Arab nations.

The carrier made the announcement in a statement Tuesday, over a year after the boycott saw Qatar Airways locked out the airspace of Bahrain, Egypt, Saudi Arabia and the United Arab Emirates.

Qatar Airways also adjusted its profit in 2017 to $766 million off revenue of $10.7 billion.

The airline's chief executive, Akbar al-Baker, said: "This turbulent year has inevitably had an impact on our financial results, which reflect the negative effect the illegal blockade has had on our airline."

The four Arab nations are boycotting Doha in a political dispute. Mediation by Kuwait and the United States hasn't managed to stop the boycott.