Dubai’s Emirates Airline has posted an annual loss of $1.1 billion in full year 2021 (April 2021 to March 2022), down from a $5.5 billion loss in the previous year.
Its revenue jumped 91% to $16.1 billion, attributed to easing of travel lockdowns that made the airline add capacity.
Operating costs increased by 30% as services returned, with fuel accounting for 23% compared to 14% the previous year. Emirates airline’s fuel bill hit $3.8 billion, attributed to a 75% higher average fuel price and a 66% increase in capacity.
The airline closed the financial year with cash assets of $5.7 billion, 38% higher than on March 31, 2021.
Emirates Airline carried 19.6 million passengers in the year, up from 6.6 million from last year. The airline added its last five Airbus A380 aircraft, and invested $2.2 billion in new aircraft.
By end of March, all of Emirates’ Boeing B777s and half of its A380s had returned to service. Its fleet totalled 262 aircraft.