FIFA’s prominent sponsor, Qatar Airways, won the hands of the Qatari government after what he described as “one of the most difficult years in the airline’s history. “
This took the form of an advance of approximately 2 billion pounds (1. 5 billion pounds / 1. 7 billion euros), after the company recorded a loss of just over 7 billion QAR (1. 47 billion pounds / 1. 8 billion dollars / 1. 6 billion euros) for the year ending March 2020.
This resolution, contained in the group’s consolidated monetary statements, would possibly reassure the governing framework of world football and other sporting partners that sponsorship is not about to be deactivated, despite the unastrous effects on COVID-19 [FEMENINO]’s foreign travel.
The airline’s spouses sports clubs have 4 of the most important names in foreign football: Paris Saint-Germain in France, Bayern Munich in Germany, AS Roma in Italy and Boca Juniors in Argentina.
It has links to CONMEBOL, the South American Football Confederation and Brooklyn Nets basketball.
As explained in the monetary statements, as of March 31, 2020, “the group’s accumulated losses exceeded 50% of consistent percentage capital. “
<< According to corporate statutes, if the accumulated losses of the corporation exceed 50 per cent of the capital issued consistent with the percentage of capital, an ordinary general assembly shall be convened for the dissolution of the corporation before the term or the percentage of capital or otherwise ", the declarations shall be added.
“As a result, after the end of the year, the shareholder anticipated QAR 7. 3 billion (1. 53 billion pounds / 1. 9 billion dollars / 1. 68 billion euros) to the company.
<< The Company's Extraordinary General Meeting, held on September 24, 2020, approved the conversion of this advance into the Company's legal and paid capital by issuing 730,000,000 shares with a face of 10 QAR (2. 10 euros / $2. 60 / 2. 30 euros) through participation with the Government of the State of Qatar. "
The group’s executive leader, Akbar Al Baker, said that “never before in the history of advertising aviation have we faced a challenge of this magnitude and magnitude. “
He continued: “We noticed a global overseas decrease of nearly 95% and overall seating capacity relief of 87% in April 2020 compared to April 2019. “
David Owen worked for the Financial Times for 20 years in the United States, Canada, France and the United Kingdom. He finished his ft career as a sports editor after the 2006 World Cup and now works as a freelancer covering the 2008 Beijing Olympics, the 2010 World Cup and London 2012.
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