Dubai Emirates’ annual loss record down to AED3.8B – Gulf Insider

Dubai-based Emirates Group recorded an annual loss of AED3.8 billion ($1 billion) for the 2021-22 financial year due to the ongoing Covid-19 pandemic impact, a significant improvement from last year with dnata returning to profitability.

The group had posted a loss of AED22.1 billion ($6 billion) in the previous year. The 2021-22 Annual Report (for the year ending March 31, 2022) showed strong recovery across its businesses with dnata returning to profitability and significant revenue improvements.

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The group’s revenue was AED66.2 billion ($18.1 billion), an increase of 86% over last year’s results. The group’s cash balance was AED25.8 billion ($7 billion), up 30% from last year. In 2021-22, Emirates received a further capital injection of AED3.5 billion ($954 million) from the Government of Dubai, and the group tapped on various industry support programmes and availed a total relief of nearly AED0.8 billion.

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Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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