Emirates Group, owner of the world’s largest long-haul airline prior to the global COVID-19 pandemic, has posted a $1.6 billion loss in H1 2021. This compares to $3.4 billion loss during the same period last year.
Despite the loss, revenue was up 86% to $5.9 billion.
The state-owned company received a capital injection of $681 million in the first half from its owner, the government of Dubai. It had also received $3.1 billion in support from the government in the financial year ended March.
In Q3 2021, the Group reported a $6 billion loss, citing the adverse impact of the global COVID-19 pandemic. A first in over 30 years, the loss was a drop from the KSh49 billion profit the Group registered last year.
Emirates is a state-owned airline based in Garhoud, Dubai, United Arab Emirates. It is a subsidiary of The Emirates Group. It is also the largest airline in the Middle East and the world’s fourth-largest airline by scheduled revenue passenger-kilometres flown.