Emirates earns record-breaking $1.2B half-year profit

Nov 9, 2022, 11:53 PM | Updated: Nov 10, 2022, 1:11 am

DUBAI, United Arab Emirates (AP) — The group owning long-haul carrier Emirates saw record-breaking half-year profits of $1.2 billion this year, the company announced Thursday, as global travel resumes after the lockdowns of the coronavirus pandemic.

The results from the Emirates Group represent a major turnaround after posting a $1.6 billion loss in the same period last year.

Emirates Group, which includes the airline, its dnata airport services firm and other companies, had revenues of $15.3 billion, compared to $6.7 billion last year at the same time. Emirates carried 20 million passengers between April and the end of September.

In a statement, Emirates CEO and Chairman Sheikh Ahmed bin Saeed Al Maktoum said he expects the group “to return to our track record of profitability at the close of our full financial year.”

The emirate of Dubai, Emirates’ ultimate owner, provided a $4 billion bailout amid the pandemic, which the group has begun paying back.

Emirates is based at Dubai International Airport, the world’s busiest for international travel.

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Emirates earns record-breaking $1.2B half-year profit