Emirates airline announces ‘significantly’ lower $1.1 bn annual loss

Emirates airline announces ‘significantly’ lower $1.1 bn annual loss

Emirates airline announced a "significantly reduced" annual loss of $1.1 billion dollars on Friday, down from $5.5 billion a year earlier, as pandemic travel restrictions ease.

Losses came in at 3.9 billion dirhams ($1.1 billion) in the 2021-2022 financial year to March, with revenues up 91 percent, as the airline expanded its global capacity and reinstated flights, Emirates said in a statement.

The carrier said it received a capital injection of $954 million from its owner, the government of Dubai, to help it survive the crisis.