Emirates swings to annual loss in 2020 amid pandemic but promises to come back stronger than before“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹

Emirates swings to annual loss in 2020 amid pandemic but promises to come back stronger than before“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹“‹

Emirates, the world's largest long-haul carrier, swung to an annual loss in 2020 like most of its global peers as the Covid-19 pandemic ravaged the travel industry, but the carrier promises to come back stronger than before, its chairman and chief executive said.

The airline reported a Dh20.3 billion ($5.5bn) loss for its fiscal year ending March 31, compared with an annual profit of Dh1.1bn in the previous period. Revenue dropped 66 per cent to Dh30.9bn, due to the temporary suspension of passenger flights at its hub in March 2020 and ongoing global travel restrictions.