in Business & Finance

Qatar Airways launches investment arbitration against Egypt

Posted 24 July 2020 · Add Comment

Qatar Airways Group has launched four international investment arbitrations against which includes Egypt.

 

Qatar Airways launches investment arbitration against Egypt.  Image Qatar Airways

The other three arbitrations are against the United Arab Emirates, Bahrain, and Saudi Arabia.

 

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.

 

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