Emirates Group reports its 2020-21 financial performance – GulfToday
- Date: 13-Nov-2020
- Source: Gulf Today
- Sector:Financial Markets
- Country:UAE
Emirates Group reports its 2020-21 financial performance – GulfToday
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Gulf Today Report
The Emirates Group on Thursday reported its financial performance for 2020-21.
The group generated revenue amounting to Dhs13.7 billion (US$3.7 billion) for the first six months of 2020-21, 74 per cent less than Dhs53.3 billion (US$14.5 billion) generated in 2019.
In a statement released by the Group, "the dramatic revenue decline was due to the COVID-19 pandemic which brought global air passenger travel to a halt for many weeks as countries closed their borders and imposed travel restrictions. As part of pandemic containment measures, Emirates and dnata's hub in Dubai also suspended scheduled passenger flights for 8 weeks during April and May."
On 30 September 2020, the group's cash position stood at Dhs 20.7 billion (US$5.6 billion) lower than Dhs25.6 billion (US$7.0 billion) dollars it had
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