Subscribe Free
in Business & Finance

Qatar Airways launches four investment arbitrations

Posted 23 July 2020 · Add Comment

Qatar Airways Group has launched four international investment arbitrations against the United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, and the Arab Republic of Egypt.

 

Qatar Airways launches four investment arbitrations.  Image:  Qatar Airways

Since 2017, the four aforementioned states have imposed an illegal air, sea and land blockade against Qatar. The arbitrations seek redress for the blockading states’ actions to remove Qatar Airways from their markets and to forbid the airline from flying over their airspace. Qatar Airways is seeking a total of at least US$5 billion from the blockading states as compensation for their unlawful actions.

 

For three decades, Qatar Airways made substantial investments in the four blockading countries in order to serve hundreds of thousands of passengers and to transport tens of thousands of tons of cargo to and from each of these countries annually.

 

Starting on 5 June 2017, without prior warning, the UAE, Bahrain, Saudi Arabia and Egypt took collective measures targeting Qatar Airways and its operations. These measures specifically targeted Qatar Airways, with the objective of shuttering Qatar Airways’ local operations, destroying the value of the airline’s investments and causing widespread damage to Qatar Airways’ global network of operations. In particular, these measures included, but were not limited to, closing their airspace and airports to Qatar Airways’ aircraft and revoking Qatar Airways’ licenses and permits to operate in the blockading states. These measures persist to date and continue to disrupt Qatar Airways’ global operations.

 

Qatar Airways is seeking full compensation for these damages in four investment arbitrations, brought under three separate treaties, namely: the OIC Investment Agreement; the Arab Investment Agreement; and the bilateral investment treaty between the State of Qatar and Egypt. The Notices of Arbitration make clear that by imposing the measures against Qatar Airways, the blockading states have violated their obligations under the agreements, including by expropriating and failing to adequately protect and secure Qatar Airways’ investments, discriminating against Qatar Airways, and failing to provide fair and equitable treatment to the airline and its investments.

 

Akbar Al Baker, Group CEO of Qatar Airways, said, “The decision by the blockading states to prevent Qatar Airways from operating in their countries and flying over their airspace is a clear breach of civil aviation conventions and several binding agreements they are signatories to. After more than three years of efforts to resolve the crisis amicably through dialogue yielded no results, we have taken the decision to issue Notices of Arbitration and pursue all legal remedies to protect our rights and secure full compensation for the violations. The blockading states must be held accountable for their illegal actions in the aviation sector, which includes a failure to comply with their obligations under bilateral agreements, multilateral agreements and international law.

 

“Qatar Airways is one of the world’s leading airlines, providing millions of customers around the world with the highest level of passenger and cargo services. Despite the efforts of the blockading states, we have maintained our global position and will continue to promote air travel as a right for all.”

Other Stories
Advertisement
Latest News

Flydubai touches down in the Maldives

Flydubai’s first flight to the Maldives touched down in Male’ on 27 October; marking the start of an up to four-times weekly service.

WMO and IATA agree to improve aircraft meteorological reporting

The International Air Transport Association (IATA) and World Meteorological Organization have signed an agreement to increase and improve the automated reporting of meteorological data by commercial aircraft.

Alpha Aviation Simulator Centre officially opens

Alpha Aviation Simulator Centre has officially opened near nearby Sharjah International Airport.

Pioneer keeps ESAT and AFA on the cutting edge

Tunisia’s high-level training institutes are constantly updating their programmes to adjust to the growing need of the aeronautics sector.

Emirates Group wins GCC GOV award

The Emirates Group has been honoured at the GCC GOV HR Awards 2020 as this year's winner of the 'Best Nationalisation Initiative in the Private Sector' award.

IATA: Airlines need to bring costs in line with revenues

The CEO of IATA Alexander de Juniac said in a media briefing today that for airlines to survive, they will need to bring costs in line with revenues.

Airport Show SK2710091220
See us at
CONNECT BT0610090421World Defence Show 2022Saudi International Airshow 2021Aviation MENA 2021MEBAA Show 2021 BT