Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Emirates half-year results indicating aviation is slowly recovering from COVID

Published

on

Emirates plans to swap Boeing 777X for Dreamliner

Emirates has announced its half-year results for its 2021-22 financial year – and its showing positive signs the aviation sector is slowly recovering

The Emirates group revenue was US$ 6.7 billion for the first six months of 2021-22, up 81% from US$ 3.7 billion during the same period last year. This strong revenue recovery was underpinned by the easing of travel restrictions worldwide and the corresponding increase in demand for air transport as countries progressed their COVID-19 vaccination programmes. 

The Group reported a 2021-22 half-year net loss of US$ 1.6 billion – substantially improved from its US$ 3.8 billion loss for the same period last year.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates says “as we began our 2021-22 financial year, COVID-19 vaccination programmes were being rolled out at unprecedented scale around the world.

“Our cargo transport and handling businesses continued to perform strongly, providing the bedrock upon which we were able to quickly reinstate passenger services. While there’s still some way to go before we restore our operations to pre-pandemic levels and return to profitability, we are well on the recovery path with healthy revenue and a solid cash balance at the end of our first half of 2021-22.”

Sheikh Ahmed added: “We would like to thank our customers for their continued support, as well as all our aviation and travel industry stakeholders and partners for their efforts that have made it possible for international air travel to resume safely and smoothly.”

The Emirates Group has been able to tap on its own strong cash reserves, and access funding through its Owner and the broader financial community to support its business needs through the unprecedented challenges wrought on the aviation and travel industry by COVID-19.

Emirates is recovering, slowly, following the COVID pandemic / Image: File

In the first half of 2021-22, the UAE, who ones the airline, further injected US$ 681 million into Emirates by way of an equity investment and they continue to support the airline on its recovery path

The Emirates Group’s employee base, compared to 31 March 2021, dropped marginally by 2% to an overall count of 73,571 at 30 September 2021. In line with the expected ramp up in capacity and business activities in the coming months, Emirates and dnata have embarked on targeted recruitment drives to support its requirements, prioritising the rehiring of employees previously on furlough or made redundant.

Emirates continues to make changes in order to return to profit.

Continued recovery and the changes Emirates has made

During the first six months of 2021-22, Emirates took delivery of 2 new A380s and retired 2 older aircraft from its fleet as part of its long-standing strategy to improve overall efficiency, minimise its emissions footprint, and provide high quality customer experiences.

With a clear focus on restoring its passenger network and connections through its Dubai hub, Emirates responded with agility whenever travel restrictions lifted to restart services or layer on additional flights. In July, it launched services to Miami, a new destination, and during the first half of 2021-22, Emirates also activated codeshare and interline partnerships with Airlink, Aeromar, Azul, Cemair and South African Airways to expand connectivity options for customers.

By 30 September, Emirates was operating passenger and cargo services to 139 airports around the world, utilising its entire Boeing 777 fleet and 37 of its superjumbo A380s.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

Continue Reading

News

Big tech caught in political drama

Published

on

Nine Google employees were escorted out of company offices in New York and Sunnyvale, California, following a sit-in protest against a cloud contract with Israel’s government.

The protest in Sunnyvale targeted Thomas Kurian’s office, CEO of Google’s cloud division, while in New York, it occupied a common area on the tenth floor.

Videos showed Google security staff and local police involved in the removal. Four workers in New York and five in Sunnyvale were reportedly detained, but details of any charges remain unverified.

 

The protest aimed to pressure Google to drop a $1.2 billion cloud computing contract known as Project Nimbus, citing concerns about its involvement with the Israel Defense Forces.

The protesters included software engineers and activists from groups opposing tech contracts with Israel. This incident reflects ongoing activism within tech companies regarding political issues, such as Israel’s actions in Gaza.

Continue Reading

News

Antitrust concerns arise for streaming sports venture

Published

on

U.S. lawmakers Jerry Nadler and Joaquin Castro expressed competition concerns regarding the planned sports streaming joint venture involving Walt Disney, Fox, and Warner Bros Discovery.

They addressed these concerns in a letter to the CEOs of the media companies, questioning the impact on access, competition, and choice in the sports streaming market.

Voicing apprehension about potential consumer price hikes and unfair licensing terms for sports leagues and distributors, they requested responses by April 30, urging the companies to also send their replies to the Department of Justice.

Despite the companies’ announcement in February of launching a joint sports streaming service in the autumn to attract younger viewers, the deal faces DOJ scrutiny and an antitrust lawsuit from FuboTV. While Disney and Warner Bros remained silent on the matter, Fox declined to comment.

The joint venture encompasses a broad range of professional and collegiate sports rights, including NFL, NBA, MLB, FIFA World Cup, and college competitions, offering non-exclusive access to sports networks such as ESPN, Fox Sports 1, and TNT via a new streaming app.

Continue Reading

News

Trump trial: will the jury selection impact the trial’s outcome?

Published

on

The Trump hush money trial has progressed with the selection of the first seven jurors, marking a significant step in the legal proceedings.

  • Seven jurors were selected

  • Defense and prosecution lawyers questioned potential jurors for impartiality

  • The judge warned lawyers he would not tolerate disruptions after he said Former US President Donald Trump audibly muttered during a prospective juror’s questioning

The selection of jurors is a crucial step in ensuring a fair trial, as they will ultimately decide Formers US President Donald Trump’s fate in this legal battle, as reported by Reuters.

The process of jury selection involves careful vetting of potential jurors to ensure impartiality and fairness.

Each juror’s background, beliefs, and potential biases are scrutinised to ensure they can render an impartial verdict based solely on the evidence presented in court.

With seven jurors already chosen, the selection process is expected to continue as both the prosecution and defence seek individuals who can objectively weigh the evidence.

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2024 The Ticker Company