Emirates reports $6 B loss, as pandemic hits aviation

Dubai-based Emirates Group posted a huge loss for the first time in 30 years due to the covid-19 crisis.


The airline reported a loss of $6 billion for the 12-month period ending at the end of March 21 while they made a profit of $456 million last year.


Group revenue was $9.7 billion, down 66% from last year. The Group’s cash balance was $5.4 billion, down 23% year-on-year due to weak demand.

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For the first time in the history of the group, layoffs were implemented in the last year. The group’s total workforce decreased by 31% to 75,145 employees.


Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said:


“The COVID-19 pandemic continues to take a tremendous toll on human lives, communities, economies, and on the aviation and travel industry. In 2020-21, Emirates and dnata were hit hard by the drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions.”

This post was published on 15 June 2021 1:44 pm

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