The Emirates Group announced today its results for the first six months of its current fiscal year 2020-2021, achieving revenues of 13.7 billion dirhams ($ 3.7 billion) for the first half of the current fiscal year, a 74% decrease from the same period last year during which it reached Revenue is 53.3 billion dirhams ($ 14.5 billion).
The group clarified in a statement that this significant decrease in revenues is mainly due to the “Covid-19″ pandemic, which paralyzed air travel for many weeks after most countries of the world closed their borders and imposed travel restrictions, noting that it is within the framework of precautionary measures to contain the epidemic. In Dubai, regular passenger flights were suspended for eight weeks during April and May.
For the first half of the fiscal year 2020-2021, the Emirates Group recorded losses of 14.1 billion dirhams ($ 3.8 billion), while the group’s cash balances amounted to 20.7 billion dirhams ($ 5.6 billion) on September 30, 2020, compared to 25.6 billion dirhams ($ 7 billion). On March 31, 2020.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chief Executive Officer and CEO of Emirates Airlines and the Group, said: “We have started our current fiscal year under a global shutdown that has completely paralyzed air travel, and due to these unprecedented conditions that affected the aviation and travel sector, the Emirates Group recorded half-year losses for once. The first in more than 30 years. ”
His Highness added: “With the suspension of travel, (Emirates Airlines) and (dnata) were able to quickly transform to serve the demand for goods and other opportunities, and this helped us to restore our revenues from zero to 26% of what it was in the same period last year. “.
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