MONITORING DESK
DUBAI: Emirates airline on Thursday bounced back into profits after huge losses during the Covid-19 pandemic, as the company has announced a $1.1 billion profit and a half-year record.
According to AFP, the airline’s revenues increased 131 percent to reach at 50.1 billion dirhams ($13.7 billion) in the first half of the financial year starting in April, compared to a year earlier.
Emirates Group, which includes the airline and air services provider dnata, recorded a $1.6 billion loss last year as the industry was suffering from the pandemic effects. However, the group bounced back by clocking a record $1.2 billion half-year profit in the current fiscal year.
The main reason of the airline’s recovery is easing the lockdowns and travel restrictions by many countries as the pandemic is in its retreat phase now.
Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates airline and group said that “We remain focused on restoring our operations to pre-pandemic levels and recruiting the right skills for our current and future requirements,”
Dubai-based Emirates airline posted a $5.5 billion loss for the 2020-2021 financial year, its first in more than three decades, after grounding its fleet and making heavy lay-offs during the coronavirus pandemic.
