Emirates Group Announces 2019-20 results

Emirates Group Announces 2019-20 results

The Emirates Group today announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter.. Released today in its 2019-20 Annual Report , the Emirates Group posted a profit of AED 1.7 billion (US$ 456 million) for the financial year ended 31 March 2020, down 28% from last year.. The Group's cash balance was AED 25.6 billion (US$ 7.0 billion), up 15% from last year mainly due to a strong business performance up to February 2020 and lower fuel cost compared to previous year.. "Despite the challenges, Emirates and dnata delivered our 32nd consecutive year of profit, due to healthy demand for our award winning products and services, particularly in the second and third quarters of the year, combined with lower average fuel prices over the year.. In line with Emirates' long-standing strategy to operate a modern and efficient fleet, these new aircraft will also keep its fleet age well below the industry average.. dnata also completed the purchase of the remaining stake in Alpha LSG,