On Wednesday, The Emirates Group announced its half-year results for its 2021/2022 financial year.
Group revenue was AED24.7 billion (US$6.7 billion) for the first six months of this year, up 81 percent from AED13.7 billion ($3.7 billion) during the same period last year.
This strong revenue recovery was underpinned by the easing of travel restrictions worldwide and the corresponding increase in demand for air transport as countries progressed their COVID-19 vaccination programmes.
The Group also reported an EBITDA of AED5.6 billion ($1.5 billion), illustrating its strong return to operating profitability.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said, “As we began our 2021-22 financial year, COVID-19 vaccination programmes were being rolled out at unprecedented scale around the world. Across the Group, we saw operations and demand pick up as countries started to ease travel restrictions. This momentum accelerated over the summer and continues to grow steadily into the winter season and beyond.
“Our cargo transport and handling businesses continued to perform strongly, providing the bedrock upon which we were able to quickly reinstate passenger services. While there’s still some way to go before we restore our operations to pre-pandemic levels and return to profitability, we are well on the recovery path with healthy revenue and a solid cash balance at the end of our first half of 2021-22.”
Sheikh Ahmed also thanked the customers for their continued support, as well as all the aviation and travel industry stakeholders and partners for their efforts that have made it possible for international air travel to resume safely and smoothly.
“Our ability to pivot and pull through the toughest period in our history to date, can be attributed to Emirates’ and dnata’s strong brands, high quality products and services, digital and innovation capabilities, and our amazing people. We intend to continue investing in these core areas to take our business into the future, together with the leaner processes and new technology capabilities that we’ve implemented in the past months,” Sheikh Ahmed added.
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