The Emirates Group announced a loss cut and forecast a return to profits this year, as the world’s largest long-haul airline sees demand from the pandemic recover.
The Dubai-based company reported a loss of 3.8 billion dirhams ($ 1 billion) a year to March, up from a loss of 22.1 billion dirhams a year ago (for the first time in three decades).
“We expect the group to return to profitability in 2022-2023 and we are working hard to achieve our goals, while closely monitoring the problems that arise with high fuel prices, new coronavirus mutations and political and economic uncertainty.” , said President Sheikh Ahmed Bin Saeed Al Maktoum.
Travel around the world is on the rise, as loosening restrictions on coronavirus releases accumulated demand.
Emirates has restored its inactive planes, restored abandoned services and increased its staff to 80% of what it was before the pandemic, although new restrictions in China are holding back a company that specializes in connecting Asia, Africa, Europe and America, through its node in the Gulf.
The number of passengers of the state-owned company tripled to 19.6 million passengers in the fiscal year 2021-2022, although it remains at only a third of the number before the crisis.
Source: Capital
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