Emirates Group has introduced a internet lack of AED14.1 billion (US$ 3.eight billion) for the primary six months of economic 12 months.
The determine is down from a revenue of AED862 million (US$ 235 million) for a similar interval final 12 months.
The group – which incorporates Emirates Airline and dnata – reported income of AED13.7 billion (US$ 3.7 billion) for the primary six months of 2020-21, down 74 per cent from AED53.Three billion (US$ 14.5 billion) throughout the identical interval of 2019.
This reversal in fortunes was because of the Covid-19 pandemic, which introduced international air passenger journey to a halt for a lot of weeks as international locations closed their borders and imposed journey restrictions.
As a part of pandemic containment measures, Emirates hub in Dubai additionally suspended scheduled passenger flights for eight weeks throughout April and Could.
Ahmed bin Saeed Al Maktoum, chief govt of Emirates Airline and Group, stated: “We started our present monetary 12 months amid a worldwide lockdown when air passenger site visitors was at a literal standstill.
“On this unprecedented state of affairs for the aviation and journey trade, the Emirates Group recorded a half-year loss for the primary time in over 30 years.
“As passenger site visitors disappeared, Emirates and dnata have been in a position to quickly pivot to serve cargo demand and different pockets of alternative.
“This has helped us get well our revenues from zero to 26 per cent of our place identical time final 12 months.”
General capability throughout the first six months of the 12 months declined by 67 per cent to 9.eight billion out there tonne kilometres (ATKM) on account of a considerably decreased flight programme over the previous months.
Capability measured in out there seat kilometres (ASKM), shrunk by 91 per cent, whereas passenger site visitors carried measured in income passenger kilometres (RPKM) was down by 96 per cent.
Common passenger seat elements fell to 39 per cent, in contrast with final 12 months’s pre-pandemic determine of 81 per cent.
Emirates carried 1.5 million passengers between April 1st and September 30th, down 95 per cent from the identical interval final 12 months.
Al Maktoum added: “We now have been in a position to faucet on our personal robust money reserves, and thru our shareholder and the broader monetary group, we proceed to make sure we’ve got entry to ample funding to maintain the enterprise and see us by way of this difficult interval.
“Within the first half of 2020-21, our shareholder injected US$2 billion into Emirates by the use of an fairness funding and they’re going to help us on our restoration path.”
