Emirates Group reports $3.8 billion H1 loss

Emirates Group reports $3.8 billion H1 loss

The UAE News report: The Emirates Group on Thursday announced its half-year results for its 2020-21 financial year. Group revenue was Dh13.7 billion ($3.7 billion) for the first six months of 2020-21, down 74% from Dh53.3 billion ($14.5 billion) during the same period last year.

The 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.

The Group reported a 2020-21 half-year net loss of Dh14.1 billion ($3.8 billion). The Group's cash position