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The Emirates Group has announced its half-year results for its 2021-22 financial year.
Group revenue was $6.7 billion for the first six months of 2021-22, up 81 per cent from $3.7 billion during the same period last year. This strong revenue recovery was underpinned by the easing of travel restrictions worldwide and the corresponding increase in demand for air transport as countries progressed their COVID-19 vaccination programmes. The Group reported a 2021-22 half-year net loss of $ 1.6 billion, substantially improved from its $3.8 billion loss for the same period last year.
The Group also reported an EBITDA of $ 1.5 billion, a dramatic turnaround from a negative $ 12 million EBITDA during the same period last year, illustrating its strong return to operating profitability. The Group continued to maintain a healthy cash position which stood at $5.1 billion on September 30, 2021, compared to $5.4 billion as on March 31, 2021.
His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “As we began our 2021-22 financial year, COVID-19 vaccination programmes were being rolled out at unprecedented scale around the world. Across the Group, we saw operations and demand pick up as countries started to ease travel restrictions.
