TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Emirates airline posts $5.5 bn annual loss, first in over 30 years
"Due to ongoing pandemic-related flight and travel restrictions, the airline reported a loss of 20.3 billion dirhams ($5.5 billion) after last year's 1.1 billion dirhams ($288 million) profit," the Middle East's largest carrier said in a statement.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Emirates airline. (Emirates/File)
D
ubai-based Emirates airline on Tuesday posted a $5.5 billion annual loss, its first in more than three decades, after the coronavirus pandemic devastated the aviation industry.
"Due to ongoing pandemic-related flight and travel restrictions, the airline reported a loss of 20.3 billion dirhams ($5.5 billion) after last year's 1.1 billion dirhams ($288 million) profit," the Middle East's largest carrier said in a statement.
The airline, which was forced to temporarily suspend operations last year, saw revenue fall 66 percent to $8.4 billion.
Over the fiscal year, which ends in March, Emirates carried 6.6 million passengers, down 88 percent from the same period in the previous year.
"The Covid-19 pandemic continues to take a tremendous toll on human lives, communities, economies, and on the aviation and travel industry," the airline's chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, said in a statement.
He added that the Emirates group was "hit hard by the drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions".
