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Emirates CEO forecasts profit recovery after reporting narrowed annual losses
May 16th 2022
Emirates Group chair and CEO, Sheikh Ahmed bin Saeed Al Maktoum, expects the airline group to return to profit in fiscal 2023 after the Dubai-headquartered carrier posted narrowed losses for its current financial year. Read More » The group, Emirates Airline and ground services company, dnata, recorded a net loss of 3.8 billion dirham (US$1 billion) for the 12 months to March 31 compared with a net loss of 22.1 billion dirham in the previous 12 months. Revenue jumped 86.2%, to 66.2 billion dirham, Emirates Group said in its annual report. “For the Emirates Group, 2021-2022 was largely about recovery after the toughest year in our group’s history,” Al Maktoum said. “We expect the group to return to profitability in 2022-2023. We are working hard to hit our targets while keeping a close watch on headwinds such as high fuel prices, inflation, new COVID-19 variants and political and economic uncertainty.”
