Dubai-based carrier Emirates expects to return to profitability this financial year, Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, stated in a tweet yesterday.
He said so on the 37th anniversary of the first Emirates flights that took off from Dubai International airport bound for Karachi and Mumbai.
“It was a small airline at the time, but with big ambitions. And soon, it developed into a pioneer in the world of aviation. We have never lost the pioneering spirit,” said Sheikh Ahmed in a tweet with an accompanying picture of that inaugural flight on the tarmac in DXB prior to its departure.
“To all the individuals of the Emirates family, past and present, I extend my thanks and appreciation for your hard work, perseverance and passion, which enabled us to reach where we are today. In the journey of excellence, there is no finish line.”
إلى اسرة طيران الإمارات فرداً فرداً، ماضياً وحاضراً، أقدم شكري وتقديري على عملكم الجاد والمثابرة والشغف، ما مكّننا من الوصول إلى ما نحن عليه اليوم. في رحلة التميّز، ليس هناك خط للنهاية. pic.twitter.com/zQs6YuoQE9
— HH Sheikh Ahmed bin Saeed Al Maktoum (@HHAhmedBinSaeed) October 25, 2022
Sheikh Ahmed said that the airline has restored 90 per cent of its network and hired 6,000 cabine crew over the last year.
He noted that the group has also invested Dhs7.9 billion this financial year in enhancing its capabilities.
In May, the Emirates group said that it had cut its annual losses by 83 per cent and posted a loss of Dhs3.8 billion (US$1 billion) for the financial year ending March 31, 2022, compared to a Dhs22.1 billion (US$6 billion) loss reported the previous year.
The group’s revenue was Dhs66.2 billion (US$18.1 billion), marking an increase of 86 per cent over last year’s results.