Emirates airline on ‘recovery path’ as losses cut by half

Emirates airline on ‘recovery path’ as losses cut by half

AFP / Dubai

Emirates airline said it was on the path to recovery from the Covid pandemic on Wednesday as six-month losses dropped by more than a half from a year earlier.

The Dubai-based carrier posted an April-September loss of $1.6bn, compared with $3.4bn during the same period in 2020.

“Across the group, we saw operations and demand pick up as countries started to ease travel restrictions,” chairman and CEO Sheikh Ahmed bin Saeed al-Maktoum said in a statement. “This momentum accelerated over the summer and continues to grow steadily into the winter season and beyond.”

Revenue was up 86% year-on-year and passenger numbers rose 319% to 6.1mn, Emirates said, adding that cargo volumes had recovered to 90% of pre-pandemic levels.

The airline also received a $681 capital injection from its owner, the Dubai government, following a $3.1bn payment announced earlier.

In June, Emirates announced its first annual loss in more than three decades after the coronavirus crisis forced it to suspend operations and slash staff last year.

“While there’s still some way to go before we restore our operations to pre-pandemic levels and return to profitability, we are well on the recovery path,” Sheikh Ahmed said.

Like other major carriers, Emirates began announcing heavy