Business Desk :
The Emirates Group comprising Emirates airline, dnata and others on Thursday announced its half-year results for its 2020-21 financial year ending on September 30, 2020.
Group revenue was $ 3.7 billion for the first six months of 2020-21, down 74% from $ 14.5 billion during the same period last year. This dramatic 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, said a press release.
The Group is reporting a 2020-21 half-year net loss of $ 3.8 billion. The Group’s cash position on 30 September 2020 stood at US$ 5.6 billion, compared to $ 7.0 billion as at 31 March 2020.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “We began our current financial year amid a global lockdown when air passenger traffic was at a literal standstill. In this unprecedented situation for the aviation and travel industry, the Emirates Group recorded a half-year loss for the first time in over 30 years.”
