Qatar Airways said to be in talks with banks for loans worth billions

A logo of Qatar Airways is seen at Hamad International Airport in Doha, Qatar June 12, 2017. REUTERS/Naseem Zeitoon

Qatar Airways is in talks with banks for loans worth billions of dollars, three sources familiar with the matter said, as the state-owned airline readies to begin rebuilding its network that has been crushed by the coronavirus pandemic.

The talks with banks are happening on a bilateral basis, the sources said, with one of them adding the company could explore offering a guarantee from the ministry of finance for the fundraising.

Qatar Airways, which declined to comment on the talks, announced on Wednesday it would start re-opening routes that it had been forced to abandon during the outbreak that has virtually halted international travel.

That follows a March warning it was burning through cash as it remained one of few global airlines continuing to operate regular, scheduled – though limited – services.

Qatar Airways has, like other airlines, said it would have to eventually seek state aid and has since temporarily cut salaries and told staff to prepare for substantial job cuts.

The airline last month signed an $850 million financing provided by Standard Chartered for seven Boeing 787-9 aircraft.

Gulf rival Emirates, in the United Arab Emirates, has also been recently in discussions with lenders about financing, sources have said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.