Emirates Airline

By the beginning of June 2016, Emirates Airline is the fourth most transported airline in the world. For the fiscal year ended March 31, 2016, the carrier's profit amounted to $1.93 billion, an increase of 56% compared to the previous year.

Aktivs

2022: In operation for May - 265 aircraft

Число planes operation in some airlines as of May 26, 2022. For comparison, Aeroflot's indicator in early 2022 is 243 aircraft

Performance indicators

2022: Record revenue - $32.6 billion

At the end of the 2022-2023 financial year (ended March 31, 2023), the Emirati state-owned company Emirates Group received revenue of 119.8 billion dirhams (approximately $32.6 billion), which is a new record. Compared to the previous financial year, the indicator increased by 81%. Such data are given in the report published on May 11, 2023.

The net profit of the Emirates Group in the 2022-2023 financial year reached 10.9 billion dirhams ($3 billion) - this also became a historical record. For comparison: a year earlier, the company suffered net losses of 3.8 billion dirhams (approximately $1 billion). It is noted that the rapid growth in indicators is primarily associated with the lifting of travel restrictions around the world imposed in the context of the COVID-19 pandemic. Against this background, the number of tourist flights increased sharply.

Emirates Group earns revenue of AED 119.8 billion

Emirates Group includes Emirates Airline and aviation service provider Dnata. The report says that for Emirates 2022-2023, the fiscal year was the most successful of all time: net profit reached 10.6 billion dirhams ($2.9 billion), compared to a loss of 3.9 billion dirhams ($1.1 billion) for the previous year. Revenue rose on an annualized basis by 81% to 107.4 billion dirhams ($29.3 billion) due to the restoration of the global network and the resumption of passenger flights. Emirates carried 43.6 million passengers, up 123% year-on-year.

The Dnata division reported a profit of 331 million dirhams ($90 million), which is significantly more than in the 2021-2022 fiscal year, which amounted to 110 million dirhams ($30 million). At the same time, revenue increased by 74% - to 14.9 billion dirhams ($4.1 billion). This, as noted, reflects the ongoing recovery from the COVID-19 pandemic in all business units in the UAE and globally.^[1]

2020: Revenue decline by 66%, to $8.4 billion, losses - $5.5 billion

Emirates ended fiscal 2020 with revenue of $8.4 billion, down 66% from a year earlier. Losses of the largest airline in the Middle East reached $5.5 billion against a profit of $288 million registered at the end of 2019.

Emirates' financial downturn is due to the fact that the airline was forced to suspend all passenger aircraft flights for several weeks in March 2020 after closing COVID-19 due to the airport coronavirus pandemic, UAE as well as the termination of transit flights through one of the world's busiest international transport hubs - the airport. Dubai

Emirates suffered a loss of $5.5 billion in 2020 due to the pandemic

The company's fleet decreased by 11 aircraft over the year. For 2020, Emirates carried 6.6 million passengers, which is 88% less than a year ago. The occupancy rate of the carrier's aircraft at the end of the year was 44.3%, having significantly decreased from 78.4% a year earlier.

The downturn in travel caused by the COVID-19 pandemic has led Emirates to stop using most of its fleet of 113 Airbus A380 aircraft and focus on 146 Boeing 777 airliners.

According to Reuters, the Emirates group, which, in addition to the airline of the same name, unites a number of other aviation and travel assets, in 2020 the financial year received its first annual loss in 33 years. We are talking about cash losses in the amount of $6 billion. The group's revenue fell by almost 66% to $9.7 billion.

The number of employees of the Emirates group in 2020 decreased by 30.8% compared to 2019 and amounted to 75,145 people. Approximately 20 thousand dismissed employees fell on the airline Emirates.

The financial statement said that the group's performance was affected by a one-time impairment charge of $408.4 million on non-financial assets.^[2]

History

2024: The head of Emirates criticized Boeing for the poor quality of the planes. Airline to send its engineers to produce them for the first time

In early February 2024, the head of one of the world's largest airlines Emirates, Tim Clark, criticized Boeing. According to him, there is a "progressive decrease" in the quality of aviation equipment of the named manufacturer. Read more here.

2023: Airbus A350-1000 purchase abandoned due to defective Rolls-Royce engines

Emirates president Tim Clark at the Dubai Air Show in November 2023 dashed Airbus' hopes of a major order, saying he would not buy more A350-1000 flagship jets until engine problems were fixed.

Clarke claims the Rolls-Royce engine is "faulty" in its current state.

Airbus remains well behind rival Boeing in its order book in Dubai.

2020

Reduction of 30% of the state due to coronavirus

On May 17, 2020, it became known about the reduction of up to 30 thousand jobs in Emirates. The airline is experiencing an acute crisis due to the COVID-19 coronavirus pandemic, which has stopped a large number of air travel.

Given that Emirates has more than 105 thousand employees, mass layoffs can lead to a decrease in the number of personnel by about 30%.

Emirates cuts 30% of state due to coronavirus

According to Bloomberg, Emirates is also considering reducing its fleet, including the decommissioning of Airbus A380 aircraft.

By May 2020, the Emirates air fleet has 115 Airbus A380 aircraft and 155 777 aircraft Boeing. As Airbus reported earlier, the production of A380 superliners will be completed in 2021.

Emirates noted that by mid-May 2020, the company is conducting an "analysis of costs and resources for compliance with business forecasts."

Saving money, protecting our business and keeping as many qualified employees as possible remain our top priorities, the company explained.

In early May 2020, the carrier said it may have to take tougher action as the company faces its most difficult period in its history.

Emirates also announced the resumption of flights to nine international destinations from May 21, 2020 - London Frankfurt, Milan, Paris Madrid, Chicago, Toronto, Sydney and Melbourne. All passengers on these flights will have to arrive at Dubai Airport three hours before departure to take the test for. coronavirus

Emirates Group president Tim Clark believes demand for air travel is likely to be reduced over the next couple of years. He also called the COVID-19 coronavirus pandemic a "black swan" that had extreme consequences for the industry.^[3]

Termination of all passenger flights

On March 22, 2020, Emirates announced the suspension of all passenger flights due to the massive spread of a new one coronavirus in the world. The world's largest airline will halt services from March 25.

We found ourselves in a situation where we cannot provide services to passengers until the countries open their borders again and confidence returns to travelers, - said the head of the airline Sheikh Ahmed bin Said al-Maktoum, whose words are quoted in a press release.

Emirates announced the suspension of all passenger flights due to the massive spread of the new coronavirus in the world

An Emirates post on the official Twitter page noted that a "painful but pragmatic decision has been made to help keep the business viable and avoid job cuts."

The company did not name the timing of the possible resumption of passenger traffic and only promised to restore them "as soon as it is feasible." The decision to suspend flights does not apply to SkyCargo's cargo flight subsidiary.

In connection with the current situation, she also decided to offer employees to take paid or unpaid leave. Most employees will be kept a salary of 25% to 50% for three months. In addition, Emirates president Tim Clark said he would waive his salary for three months to provide financial support to staff.

Due to the coronavirus, not only Emirates, but also many other major airlines around the world are also cutting services. So, in March 2020, American Airlines announced a decrease in 75% of traffic, while United Airlines plans to reduce 90% of international flights scheduled for April 2020.

The fall in demand for passenger air transportation and restrictive measures due to the spread of the coronavirus led to the cancellation of several thousand flights around the world.^[4]

Notes