Emirates Group records huge loss for 2021-22 I Times of Oman

Emirates Group records huge loss for 2021-22 I Times of Oman

DUBAI, [UAE]: The Emirates Group today released its 2021-22 Annual Report which shows strong recovery across its businesses. dnata returns to profitability, and significant revenue improvements were reported across both Emirates and dnata as the Group rebuilt its air transport and travel-related operations which were previously cut-back or curtailed by the COVID-19 pandemic. For the financial year ended 31 March 2022, the Emirates Group posted a loss of AED 3. 8 billion (US$ 1. 0 billion) compared with an AED 22. 1 billion (US$ 6. 0 billion) loss for last year. The Group's revenue was AED 66. 2 billion (US$ 18. 1 billion), an increase of 86% over last year's results. The Group's cash balance was AED 25. 8 billion (US$ 7. 0 billion), up 30% from last year mainly due to strong demand across its core business divisions and markets, triggered by the easing of pandemic-related restrictions. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: "This year, we focussed on restoring our operations quickly and safely wherever pandemic-related restrictions eased across our markets. Business recovery picked up pace particularly in the second half of the year. Robust customer demand drove