{"id":20559,"date":"2022-05-15T11:00:00","date_gmt":"2022-05-15T05:30:00","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=20559"},"modified":"2022-05-15T09:13:22","modified_gmt":"2022-05-15T03:43:22","slug":"emirates-posts-1-billion-annual-loss-bets-on-profitability-in-fy2022-23","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/05\/15\/emirates-posts-1-billion-annual-loss-bets-on-profitability-in-fy2022-23\/","title":{"rendered":"Emirates posts $1 billion annual loss, bets on profitability in FY2022-23"},"content":{"rendered":"\n

Emirates<\/strong>, the government-owned airline of the United Arab Emirates, released its annual financial statistics<\/strong> for FY2021-22, showing a loss of $1 billion (AED 3.8 billion). <\/p>\n\n\n\n

Emirates released an evaluation of its results for the fiscal year 2021-2022, which ended on March 31, 2022, on May 13, 2022. <\/p>\n\n\n\n

\"Emirates,
Emirates CEO , Image courtesy :-dubaiholding<\/figcaption><\/figure>\n\n\n\n

Despite a loss of $1 billion<\/strong> (AED 3.8 billion), the airline managed to improve its financial performance from the previous financial year, when it lost $6 billion<\/strong> (AED 22.1 billion). <\/p>\n\n\n\n

“We built up our robust cash balance<\/strong>,” Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum stated, noting that the business completed the year with a cash balance of roughly $7 billion (AED 25.8 billion), up 30% from the previous financial year. <\/strong><\/p><\/blockquote>\n\n\n\n

The Dubai-based airline served 19.6 million passengers in 2021-22, nearly doubling the amount of passengers it carried the previous fiscal year. <\/p>\n\n\n\n

Emiratesclaimed it expanded its network by 20 flights<\/strong>, bringing the total number of destinations to 140, in order to respond quickly to the ever-changing business climate<\/strong>. <\/p>\n\n\n\n

\"\"
Image credits to Emirates <\/figcaption><\/figure>\n\n\n\n
Meanwhile, it retired two older aircraft: \n\none Boeing 777-300ER and one cargo plane. \nIt now has 262 planes in its fleet, with an average age of 8.2 years. <\/pre>\n\n\n\n
“In 2021-22, Emiratescontinues to implement its environmental policy, which focuses on lowering carbon emissions, responsible resource consumption, and wildlife and habitat conservation. <\/strong><\/p>
The Group supported communal, humanitarian, and charitable projects<\/strong> in its many markets during the year, as well as innovation incubators and other programmes that cultivate future solutions for industry growth,” according to the carrier.<\/p>
<\/p>
Emirates<\/a> aims to return to profitability in FY2022-23, notwithstanding the recent loss. <\/p><\/blockquote>\n\n\n\n
Stay Tuned and Updated with us!<\/p>\n","protected":false},"excerpt":{"rendered":"
Emirates, govt. airline of UAE released its annual financial statistics for FY2021-22, showing a loss of $1 billion. Know more <\/p>\n","protected":false},"author":2,"featured_media":20561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[2030,1218,4767,5967],"class_list":{"0":"post-20559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized","8":"tag-aviation-a2z-news","9":"tag-emirates","10":"tag-emirates-ceo","11":"tag-uae-airlines"},"_links":{"self":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/20559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/comments?post=20559"}],"version-history":[{"count":1,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/20559\/revisions"}],"predecessor-version":[{"id":20562,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/20559\/revisions\/20562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/media\/20561"}],"wp:attachment":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/media?parent=20559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/categories?post=20559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/tags?post=20559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}