Emirates reports lower losses as strong customer demand lifts revenue to $1 billion in FY 2021-22 – Arabian Business

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Middle East
  • Date: 13-May-2022
  • Source: Arabian Business
  • Sector: Economy
  • Country: Middle East
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Emirates reports lower losses as strong customer demand lifts revenue to $1 billion in FY 2021-22 – Arabian Business

The Emirates Group has seen a dip in annual losses caused by the Covid-19 pandemic and has predicted a return to profit on the back of strong customer demand and eased travel restrictions.

The Emirates Group reported an annual loss of $1 billion (AED 3.8 billion) in its 2021-22 Annual Report for the financial year ending 31 March 2022, marking a significant improvement on losses of $6 billion (AED 22.1 billion) in the previous financial year.

The group’s revenues soared 86 percent to $18.1 billion (AED 66.2 billion) in 2021-22, while the cash balance stood at $7 billion (AED 25.8 billion), up 30 percent from the previous year mainly due to strong demand across its core business divisions and markets.

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