Emirates suffer $3.4 billion loss during on-going pandemic

The United Arab Emirates flag carrier stated a revenue drop of 75% equivalent to $3.4 billion. The state-owned airlines, Emirates reported the first-half loss for the first time in more than 30 years.

The airline suspended most of its flights during the epitome of the pandemic. The group implemented widespread redundancies, reducing 24% workforce in response to the pandemic. The Emirates group was supported by the injection of $2 billion in funds by the Dubai government.

The airline carried 1.5 million passengers in the first six months of the pandemic, a drop in passenger traffic by 95%. Whereas, the airline reported a profit of $235 million a year ago in the same quarter. The group believes there will be a steep recovery in travel demand once the Covid-19 vaccine is available.

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