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Emirates sees return to profitability in 2022-23

Dubai - Dubai flag carrier gets assessments right in past about forecasts: Clark

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Emirates airline expects a return to profitability in 2022-23 and sees business travel returning to normalcy in 2022.

Tim Clark, president of the Dubai-based flag carrier, said the airline got its assessments right in the past about its forecasts.

In the first half of the 2020-21 financial year, Emirates posted a Dh12.6 billion ($3.4 billion) loss compared to last year’s profit of Dh862 million.

Its revenue, including other operating income, of Dh11.7 billion was down 75 per cent compared with the Dh47.3 billion recorded during the same period last year. This result was due to severe flight and travel restrictions around the world because of Covid-19.

Speaking to CNN, he said Dubai’s two major airports and Emirates’ large fleet of aircraft and freighters are in a position to make the emirate as a hub for the distribution of Covid-19 vaccines.

“If we can engage with suppliers, as we have been doing, to build a hub here we can store the vaccine at the temperatures that they need to be, and then distribute them to Arica, South America, West Asia, India, Pakistan and further East. We are organising ourselves to do that,” he was quoted as saying by the US cable network.

The UAE and other countries have yet to begin approving Covid-19 vaccines’ use for the masses following the approval by healthcare authorities.

A number of public and private healthcare institutions are giving the jabs to people registering with them.

— waheedabbas@khaleejtimes.com