Covid: Emirates sees profitability in 2 years

SourceKhaleej Times
SectorEconomy
CountryUAE

Dubai-based Emirates airline now flies to more than 100 destinations and expects to post profit in the next two years after it reported first loss in more than 30 years due to Covid-19. While speaking to CNBC, Tim Clark, president of Emirates airline, projected that the carrier will return to profitability within the next 18 months or two years. Emirates Group reported a 2020-21 half-year net loss of Dh14.1 billion while Emirates airline posted Dh12.6 billion loss.

The group’s revenues plummeted 74 per cent to Dh13.7 billion while Emirates airline announced 75 per cent plunge in revenues to Dh11.7 billion. Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates Airline and Group, had said in the first-half report that ...read more...