Forbes: Etihad and Qatar Airways Report Earnings, So to Speak – But Are They for Real?
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Etihad Airways and Qatar Airways have reported profits for 2014, but it’s a challenge to determine whether the profits are real.“These carriers don’t release financial statements the way the U.S. carriers do and their past financial reporting practices leave a lot to be desired,” said Jill Zuckman, spokesperson for the Partnership for Open & Fair Skies, which represents the big three U.S. carriers and their unions.
American, Delta and United contend that Qatar, Etihad and Emirates have benefitted from $39 billion in subsidies provided by the governments of Qatar, the United Arab Emirates, and Abu Dhabi and Dubai, the two largest emirates.
Now the subsidized carriers are increasingly dumping capacity in the U.S and they are reporting alleged profits as a public relations maneuver, Zuckman said.”