EMIRATES AIRLINE RECORDS FIRST LOSS IN 30 YEARS
Emirates Airline on Thursday, November 12 stated it lost $ 3.4 billion in six months, its first in three decades.
The Dubai based airline, like other businesses in the aviation sector, has been severely hit by the lockdown caused by the Coronavirus which brought air transport to a 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,” the airline’s chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum said.
As passenger traffic disappeared, the airline said it survived repurposing its fleet to meet the need for cargoes around the world, including transporting medical equipment.
“As passenger traffic disappeared, Emirates and (air services arm) dnata have been able to rapidly pivot to serve cargo demand and other pockets of opportunity,” Sheikh Ahmed said.
The airline, however, is hopeful that business would pick up once a covid vaccine is available.
“No one can predict the future, but we expect a steep recovery in travel demand once a Covid-19 vaccine is available, and we are readying ourselves to serve that rebound.”