Emirates has swung to a record profit of $1.2 billion in the first-half of its 2022/2023 financial year, driven by strong demand and the easing and removal of pandemic-related travel restrictions.
In a statement released on Thursday (10 November) the Dubai-based carrier said this reflects a “strong turnaround and recovery” after last year’s loss of $1.6 billion.
Group revenue for the six months to 30 September jumped 125 per cent to $15.3 billion, which includes both Emirates airline and dnata logistics businesses.
Revenue for the airline was up 131 per cent on last year to $13.7 billion, with a profit of $1.1 billion which the carrier attributed to “forward planning” and its “agile business response” as restrictions eased.
Airline and group CEO Sheikh Ahmed bin Saeed Al Maktoum, said: “We were ready and amongst the first movers to serve the strong customer demand thanks to our robust business plans, the support of our industry partners, and our ongoing investments in people, technology, and products and services.”
The airline is now serving more than 140 destinations as Emirates rebuilds and expands its network following the Covid-19 pandemic. In the first six months of the 2022-23 year, the carrier launched codeshare and interline agreements with 12 airlines including – Aegean, ITA Airways, Air Baltic, Air Canada, Finnair, Royal Air Maroc and Sky Express, launched its new premium economy product on flights from London and Paris, and commenced new services to Tel Aviv.
Al Maktoum added: “For the coming months, we remain focused on restoring our operations to pre-pandemic levels and recruiting the right skills for our current and future requirements.
“We expect customer demand across our business divisions to remain strong in H2 2022-23,” he said.
Following a recruitment drive, the group’s employee base grew 10 per cent from March to September to a total 93,893 employees.