Emirates Air posts US$5.5 billion loss as COVID-19 disrupts travel
DUBAI: The Middle East's largest airline, Emirates, announced on Tuesday (Jun 15) a net loss of US$5.5 billion over the past year as revenue fell by more than 66per cent due to global travel restrictions sparked by the coronavirus pandemic.
The Dubai-based airline said revenue had declined by US$ 8.4 billion, largely due to the suspension of passenger flights at its hub in March 2020 and ongoing restrictions on travel.
READ:Â Long-haul carrier Emirates to ship COVID-19 aid for free into India
Emirates Group, which also operates dnata ground services at airports, reported a total loss of US$6 billion, the first time ever it does not post a profit in more than three decades, the company said.
Dubai's government has stepped in to assist Emirates financially.
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