Emirates Air posts $5.5 billion loss as virus disrupts travel
DUBAI: The Middle East’s largest airline, Emirates, announced on Tuesday a net loss of USD 5.5 billion over the past year as revenue fell by more than 66% due to global travel restrictions sparked by the coronavirus pandemic.
The Dubai-based airline said revenue had declined by USD 8.4 billion, largely due to the suspension of passenger flights at its hub in March 2020 and ongoing restrictions on travel.
Emirates Group, which also operates dnata ground services at airports, reported a total loss of USD 6 billion, the first time ever it does not post a profit in more than three decades, the company said.
Dubai’s government has stepped in to assist Emirates financially.
Source: AP
