Same causes, same effects.
Like the big, historic Western airlines, Emirates has bitten the dust because of the health crisis.
Last year, Air France-KLM lost 7.1 billion euros, IAG (British Airways, Iberia, Aer Lingus…) 6.9 billion.
For its part, the largest airline in the Gulf has plunged into the red to the tune of 4.5 billion dollars (3.7 billion euros) during the 2020-2021 fiscal year.
A blow, because the Dubai company was making money continuously since the 1987-88 financial year.
Business travelers will turn away from air travel
"has been hit hard by the drop in demand for international air travel, as countries have closed their borders and imposed strict restrictions on travelers," said
Emirates CEO Sheikh Ahmed bin Said al-Maktoum.
The other companies in the region have not fared better: in the 2019-2020 fiscal year ended at the end of March at the very start of the pandemic, Doha-based Qatar Airways recorded a record loss of 1.9 billion.
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