Dubai’s government is planning to help Emirates financially. Emirates reported an annual loss of US$5.5 billion, which was the first loss in more than 30 years. This airline helped Dubai become one of the world’s leading international aviation hubs.
The annual passenger volume was 6.6 million, a decrease of 88% from the previous year. President and CEO Sheikh Ahmed bin Said Al Maktoum said: “No one knows when the pandemic will end, but we know that the recovery will be uneven.” Emirates and the group.
“Economics and companies in a strong position will be in a better state of recovery.” Although the pandemic has had a cruel impact on airlines around the world, the impact of this crisis on airlines and airports is different, depending on the specifics. On the route and passenger profile.
Since Emirates relies heavily on international travel without a national network, it has not benefited from the rebound in domestic air travel in other parts of the world such as the United States and China. Aviation consultant John Strickland told Arab News: “It’s not surprising that Emirates reported huge losses.
Like all airlines, recovery will take a long time.” “However, in the short term, it’s already Can benefit from the payload capacity of its 777-300ER. As new aircraft enter its fleet, it is already evaluating options for the future shape of its fleet and network and will expand its close partnership with flydubai, which also increases the flexibility of its network development options.
“The Emirates Group’s revenue this year fell 66% to US$9.7 billion. The company said it has received AED11.3 billion (approximately US$3.1 billion) in capital injection from its ultimate shareholder, the Dubai government.
He said he The dnata division, including ground assistance, travel services, and catering, also received AED 800 million in relief. Emirates reduced the cost of the entire group by renegotiating contracts and restructuring financial obligations, saving the country an estimated 7.7 billion Dirham.
Sheikh Ahmed stated that the airline’s goal is to restore full operational capacity as soon as possible. “Added to Dubai’s unwavering ambition to develop economic activities and build a city of the future, I believe in Emirates. And dnata will rebound and be stronger than before,” he said.
Emirates’ total passenger and cargo capacity has been reduced by 58%. It received three new A380s in the current fiscal year and eliminated 14 old aircraft, including 9 With Boeing 777-300ER and 5 A380s, its total fleet reached 259 by the end of March. Its 200 aircraft orders remain unchanged.