As a result of the high demand for travel... and the continued strength of air freight operations
81% growth in the revenues of the "Emirates Group" to 24.7 billion dirhams in 6 months
Ahmed bin Saeed: “We are moving forward on the path of recovery with good revenues and strong cash balances at the end of the first half of (2021-2022).”
The group achieved an operating profit before interest, tax, depreciation and amortization of 5.6 billion dirhams.
From the source
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The Emirates Group’s revenues amounted to 24.7 billion dirhams, for the first half of its current fiscal year (2021-2022), an increase of 81% over the same period last year, during which revenues amounted to 13.7 billion dirhams.
And the group said in a statement, yesterday, during which it announced its financial results for the first six months of the fiscal year, that this strong recovery in revenues was caused by the high demand for travel after the easing of travel restrictions around the world, as well as the continued strong demand for air freight, in addition to To the rapid progress in vaccination programs against the “Corona” virus.
operating profit
The group indicated that it recorded losses for the first half of the fiscal year (2021-2022) amounting to 5.7 billion dirhams, a significant improvement over last year's losses of 14.1 billion dirhams.
It explained that it achieved operating profits before interest, taxes, depreciation and amortization, which amounted to 5.6 billion dirhams, in a transformation it described as “dramatic” from negative profits of 43 million dirhams during the same period last year, which is a strong indication of the return to operational profitability.
cash balances
The group continued to maintain healthy cash balances of 18.8 billion dirhams on September 30, 2021, compared to 19.8 billion dirhams on March 31, 2021.
The Emirates Group was able to benefit from its strong cash balances, and access to financing through its owners and the broader financial community to support its business requirements amid the unprecedented challenges imposed by “Covid-19” on the aviation and travel industry.
During the first half of (2021-2022), the owners injected 2.5 billion dirhams into Emirates Airlines by investing in shares, and they continue to support the airline on the path of recovery.
Number of employees
The number of employees in the “Emirates Group” recorded a slight decrease compared to March 31, 2020, by 2%, to reach 73,571 employees on September 30, 2021.
In line with the expected growth in capacity and business activities in the coming months, Emirates Airlines and dnata have launched global recruitment campaigns to support their requirements, with priority given to the re-appointment of employees who have previously taken leave or are laid off.
growth
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airlines and the Group, said: "We have started our current fiscal year with the launch of vaccination programs against (Covid-19) in an unprecedented way all over the world."
His Highness added: “Across the group, we witnessed a growth in operations and demand, with most countries starting to ease travel restrictions, as this momentum accelerated during the summer with continued growth in the winter season and beyond, and the cargo transportation and handling business continued its strong performance, which provided the basis that enabled us From quickly restoring passenger services to their previous state.”
His Highness continued, "Although we still have a way to go before we return our operations to pre-pandemic levels and return to profitability, we are moving forward on the path of recovery with good revenues and strong cash balances at the end of the first half of (2021-2022)."
to thank
His Highness Sheikh Ahmed bin Saeed Al Maktoum thanked customers for their continued support, as well as all relevant authorities and partners in the aviation and travel industry for their efforts that allowed the smooth and safe resumption of international air travel, saying: “It is thanks to our ability to adapt during the most difficult period in our history. So far, to the strength of the Emirates and dnata brand, the high quality of our products and services, our digital and innovative capabilities, and our amazing employees.”
He added, “We are determined to continue investing in these core areas to move our business into the future, with the smooth operations and new technological capabilities that we have implemented in the past months.”
55% increase in dnata's revenue
dnata's revenues for the first half of the financial year (2021-2022), including income from other operations, amounted to 3.7 billion dirhams, an increase of 55% compared to revenues for the same period of the previous year, which was 2.4 billion dirhams.
dnata Airport Operations maintained its position as the largest contributor to dnata's revenues, reaching 2.5 billion dirhams, an increase of 54% over the revenues of the first six months of the previous fiscal year.
The total number of aircraft that dnata provided handling services to in all its work sites increased by 116% to 222,668 aircraft, while the shipments handled by 1.4 million tons recorded a growth of 9% over the same period last year.
Demand for dnata's business in ground handling, catering, travel services, freight and retail witnessed a rapid return with the easing of restrictions on flights and travel related to the pandemic.
dnata has continued to invest in infrastructure to serve its global customers more efficiently. During the first six months of the current fiscal year, it opened a 5,000 square meter facility dedicated to providing advanced maintenance for passenger buses at Dubai International Airport.
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