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

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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. 

World

Ivan carves path of utter destruction

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After devastating Florida, Hurricane Ian is headed for Carolinas, Georgia

A grim picture of Hurricane Ian’s horrific wreckage emerged Thursday, as millions of people in Florida faced destroyed homes, completely flooded streets and power outages.

The storm’s power turned out to be worse than many had predicted.

Unfortunately, families who did not evacuate have been left stranded as rising water tore through their homes.

So far, hundreds have been rescued from floodwaters, and emergency crews are still struggling to reach some of the most devastated areas.

According to the National Hurricane Center, a storm surge of 12-18 feet hit as destructive waves struck the coast.

Officials say the hurricane knocked out power to more than 2.6 million customers, mainly in southwest and central Florida.

Meanwhile, the Florida Division of Emergency Management (FDEM) says that the next 72 hours will certainly be the most critical when it comes to rescue missions.

President Biden said there were ‘early reports of what may be substantial loss of life’ saying, that the numbers are still unclear but there are early reports of fatalities.

The President added, “water rescue is critical—Coast Guard deployed 16 rescue helicopter, six fixed wing aircraft and 18-rescue boats and crews. That’s just one element of the many federal search and rescue teams that were pre-staged in Florida.”

Florida Governor Ron DeSantis detailed the state’s “monumental effort” to help aid recovery and eventually rebuild.

“Those were really difficult images to see but we’re committed to restoring the infrastructure as needed. That is not going to be an overnight task. That is going to require a lot of love and care—it’s going to require a lot of resources, but we’re going to do it because we understand how important it is.”

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Climate Change

Hurricane Ian could be Florida’s deadliest storm

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Hurricane Ian could be Florida’s deadliest storm as it continues north towards South Carolina

U.S. President Joe Biden says Hurricane Ian could be the deadliest storm in the region’s history, with early reports suggesting substantial loss of life.

Biden spoke at an afternoon briefing at the headquarters of the Federal Emergency Management Agency (Fema).

Ian made landfall on Wednesday local time near the city of Fort Myers. It has led to severe flooding, high winds and storm surges.

Several areas remain submerged, and more than 2.5 million homes are without power.

Many residents are trapped in their homes and unable to escape. Search and rescue teams are working around the clock to provide assistance where they can.

5,000 Florida National Guard troops and 2,000 Guardsman from surrounding states have been deployed.

Eight teams with 800 members are carrying out search and rescue operations.

More than 200 public shelters have now been opened, housing around 34,000 people.

The National Hurricane Centre has downgraded Ian to a tropical storm for now but warns it will likely become a hurricane again later.

The entire coast of South Carolina is just the latest region to be placed on high alert as the storm continues north on its path of destruction.

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World

Finland slams its borders shut on Russia

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Finland will officially closed its border to Russian tourists, marking the last of Moscow’s E-U neighbours to do so.

Finland will close its border with Russia as Poland, Estonia, Latvia and Lithuania also closed theirs.

The Finnish government made the decision following Vladimir Putin’s decision to call-up of 300,000 military reservists.

Queue’s at Russia’s border crossings with E-U nations were stretching for kilometres as people attempted to flee the country.

The closure of the border only applies to tourists – and Russians who are visiting family or travelling for work or study will still be granted entry.

The Finnish Foreign Minister stated that the decision was a difficult one to make, but ultimately it was in the best interest of the country.

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