Qatar Air seeks US$5b from Saudi-led bloc on airspace ban

[DOHA] Qatar Airways said it is seeking at least US$5 billion from the United Arab Emirates, Bahrain, Saudi Arabia, and Egypt for stopping the airline from using their airspace.

The airline has started four international investment arbitrations that "seek redress for the blockading states' actions to remove Qatar Airways from their markets and to forbid the airline from flying over their airspace," according to a statement.

Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic, trade and transport links with Qatar in 2017, accusing the gas-rich country of maintaining close ties with Iran and supporting terrorism. Qatar denies both charges.

Earlier this month, Qatar won a round in a legal dispute to reopen airspace. The International Court of Justice said the International Civil Aviation Organization has jurisdiction to oversee negotiations on a ban on Qatar-registered aircraft in airspace controlled by the boycotting countries.

Arbitrations has been brought under three separate treaties: the OIC Investment Agreement; the Arab Investment Agreement; and the bilateral investment treaty between Qatar and Egypt

BLOOMBERG