November 8, 2019: The Emirates Group today announced its half-year results for its 2019-20 financial year with Emirates airline registering 8 percent decrease and dnata showing 6 percent decrease in cargo volume amid global trade tensions and unrest in key cargo markets.
Emirates airline has uplifted a cargo volume of 1.2 million tonnes and dnata carried handled 1.5 million tonnes between April 1 and September 30, 2019.
Group revenue was $14.5 billion for the first six months of 2019-20, down 2% from $ 14.8 billion during the same period last year.
The revenue decline was due to capacity reductions during the 45-day Southern Runway closure at Dubai International airport (DXB), and unfavourable currency movements in Europe, Australia, South Africa, India, and Pakistan.
Profitability was up 8% compared to the same period last year, with the Group reporting a 2019-20 half-year net profit of AED 1.2 billion (US$ 320 million).
The profit improvement was primarily due to the decline in fuel prices of 9% compared to the same period last year, however, the gain from lower fuel costs was partially offset by negative currency movements.
Easing of travel restrictions worldwide saw Emirates Group reduce its net loss to $1.6 billion for six months ended September 30, 2021 from $3.8 billion last year.Revenue increased 81 percent to $6.7 billion and EBITDA was $1.5 billion compared to a negative $12 million.The group continued to maintain a healthy cash position of $5.1 billion as on September 30, 2021 compared to $5.4 billion as on March 31, 2021.
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This is one of the biggest airlines on the planet, Emirates airlines is a Dubai-based carrier.
It works under the Emirates Group, claimed by the Investment Corporation of Dubai.
Flights are available from 9 cities in India and connect around the world.
The most popular route from Delhi to Dubai and you get the most frequent flights.
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Amid the pandemic, Emirates SkyCargo has scaled up its operations by handling 3,000 tonnes of cargo per day, which include essential medical supplies including PPEs and pharmaceuticals, said Henrik Ambak, Emirates senior vice president, cargo operations worldwide.
