Emirates Airlines revenues rise

Emirates announced an increase in revenue today, though the Dubai-based airline still sustained a loss for the first half of its fiscal year. 

Emirates reported $5.9 billion in revenue for the first half of its fiscal year, an 86 percent increase over last year’s figure of $3.2 billion at the same time. The airline’s overall loss for the first half was $1.6 billion, which was less than the $3.4 billion loss last year, according to a statement from Emirates. 

Emirates’ fiscal year runs from Apr. 1 to Mar. 31, an airline spokesman told Al-Monitor. The half year point is in September. 

Like other airlines in the Gulf and the Middle East, Emirates has suffered financially throughout the COVID-19 pandemic. It sustained a $5.5 billion loss in 2020. The carrier completely suspended passenger flights in March of 2020 at the start of the pandemic and resumed a limited number of routes the following May. 

The airline has largely rebuilt its flight network now, however. In June, Emirates also added a new route to Miami. 

Emirates’ improved financial state is the result of increased passenger demand and cargo flights, the airline said in the statement.

Emirates also cut jobs last year due to coronavirus-related pressures. The airline reported 39,371 employees in September 2021, compared to 40,801 in September 2020.