Emirates Eyes Return to Profitability in 2022

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  • Emirates expects a return to profitability in the next two years, as new travel opportunities open and the air travel industry looks to rebound
  • Last week, Emirates Group reported a $3.8 billion loss for the first half of the year, its first loss in 30 years, as the pandemic crippled air travel across the world
  • The company's revenue dropped by nearly 75 percent to $3.7 billion dollars
  • Emirates has cut almost 25 percent of its workforce, and the Government of Dubai has injected over $2 billion into the airline as equity investment to help the airline recover
  • New travel corridors are opening up, which may help the group recovery speedily. For instance, the UK recently added the UAE to its travel corridor list, allowing travelers fly from the UAE to the UK without the need to self-isolate