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The Pandemic drew Emirates to its first loss in 33 years

This is the first annual loss in more than three decades, totaling $ 5.5 billion. The cost of the worldwide health crisis in the Emirates was clear in its consequences on Tuesday (June 15). The government has promised to continue supporting the airline. But Emirates says the recovery is patchy, and there is no prediction when the crisis will end. The niubai government injected an additional $ 1.1 billion into the airline from the disclosure of a $ 2 billion lifeline last year. With no domestic market to prevent border restrictions and closures, Emirates ’entire operation relies on international travel. Revenue this year grew by 66% to $ 8.4 billion for the year. And passenger traffic fell by more than 88% to 6.6 million. It is expected to take years for airlines to recover from the crisis. longest to rebound. Emirates group workers are down 30% in the year. But the state-owned company is far from the only national carrier to get government assistance. Germany’s Lufthansa f was forced to take out $ 11 billion in aid by 2020. On Monday (June 14) it laid out plans to return revenue as a weaker, less staffed airline with fewer planes. .

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