The Emirates Group has released its 2021-2022 results, which shows strong recovery across its businesses. dnata (Dubai National Air Travel Agency) returns to profitability and significant revenue improvements were reported across both Emirates and dnata as the Group rebuilt its air transport and travel-related operations which were previously cut-back or curtailed by the COVID-19 pandemic.
For the financial year ended March 31, 2022, the Emirates Group posted a loss of AED 3.8 billion (US$ 1.0 billion) compared with an AED 22.1 billion (US$ 6.0 billion) loss for last year. The Group’s revenue was AED 66.2 billion (US$ 18.1 billion), an increase of 86% over last year’s results. The Group’s cash balance was AED 25.8 billion (US$ 7.0 billion), up 30% from last year mainly due to strong demand across its core business divisions and markets, triggered by the easing of pandemic-related restrictions.
Emirates’ total passenger and cargo capacity increased by 47% to 36.4 billion ATKMs in 2021-22, as the airline continued to reinstate passenger services across its network in line with the lifting of pandemic-related flight and travel restrictions.
From 120 destinations at the start of the financial year, to increased operations and capacity growth across over 140 destinations by March 31, 2022, Emirates was able to respond dynamically to serve customer demand wherever opportunities arose, thanks to the resilience of its people and business model. In July, the airline launched a new route to Miami, bringing its total passenger gateways in the U.S. to 12.
To serve the strong rebound in travel demand, Emirates deployed its flagship A380 aircraft to even more cities during the year, bringing its A380 network to 29 destinations as of March 31, 2022.
