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Survival of the richest: Dubai Govt pumps more money into Emirates

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Emirates has received an additional $1.1 billion from the Dubai government

After recording a massive loss of $5.5 billion on Tuesday, the latest injection Emirates has received has risen to $3.1 billion, including $2 billion disclosed last year.

The airliner which made a $288 million profit the previous year saw saw revenue plunge 66% to $8.4 billion.

The international airline operates a fleet of 113 Airbus A380’s and 146 Boeing 777’s.

Emirates doesn’t fly or operate local/domestic routes and has been heavily impacted by international border closures in many countries such as Australia, which remains closed.

Emirates Chairman Sheikh Ahmed bin Saeed Al Maktoum says the recovery from the pandemic would be ‘patchy’, cautioning that no one could predict when the industry’s worst crisis would end.

The airliner stated that it had filled just 44.3% of seats on flights in the past year, down from an average of 78.4% a year earlier.

EK carried 6.6 million passengers, its lowest in two decades.

The airline cut capacity by 82.6% compared with the previous year as it centred operations around its 146 Boeing 777s.

Emirates reverted 19 of its Boeing 777 aircraft, stripping the seats to carry more cargo.

Most of the airline’s Airbus A380s have been grounded. Four more have been removed from operation and are unlikely to return before their scheduled retirement, it said.

The biggest loss in 30 years

It was the airline’s biggest annual loss, and only its third-ever following losses in 1987-88 and 1985-86, its first year in operation.

Emirates stated that the government who is its sole shareholder, would continue to support the airline.

Emirates has transformed Dubai into a major international travel hub over the past three decades, bringing billions of dollars from tourists into the country.

Both Emirates and Qatar Airways have no domestic markets to cushion against border restrictions and closures.

Qatar and Etihad results

Fellow Gulf carrier Qatar Airways, which is due to report results for its fiscal year ending March 31, has also received $3 billion from its state owner.

Abu Dhabi government-owned Etihad, which posted a core operating loss of $1.7 billion in 2010, has also slashed jobs and retired aircraft such as the superjumbo A380.

The pandemic has seen passenger revenue continue to slump.

In 2019, revenue fell 74% to $1.2 billion from $4.8 billion in 2019, as passenger numbers dropped 76% to 4.2 million, down from 17.5 million in 2019.

Etihad has recorded losses for the past five years.

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. 

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Germany recalls Tesla models due to emergency fault

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Tesla is in the spotlight again, with Germany’s road traffic agency recalling models Y and 3 due to a fault in the automatic emergency call system

It’s a fault that could possibly impact around 59,000 vehicles globally.

Germany’s watchdog says a software flaw is causing a breakdown of the e-Call, a system designed to alert authorities after a serious accident.

The glitch follows the company delivered almost 18 per cent fewer electric vehicles in the second quarter than in the previous.

This is largely due to China’s Covid-19-related shutdowns and the ongoing supply chain crunch.

Meanwhile, CEO Elon Musk says Tesla’s new factories in both Texas and Berlin are “losing billions of dollars”.

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World’s first city to charge tourists for visiting

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If you’re lucky to be heading abroad this summer, a visit to the famous canals in Venice, Italy might be on your itinerary, but beware of new fees to come.

Venice will charge most of its visitors an entry fee from next year as it tries to tackle overcrowding.

The city’s tourism chief says Venice are pioneers and will be the first city in the world to apply a measure that could be revolutionary.

From mid January next year, day-trippers must book their visit online before travelling.

They will pay a basic fee of 3 euro, which will rise to 10 euro at peak times.

Tourism is bouncing back in Venice after the pandemic with daily visitors again often outnumbering the 50-thousand residents of the city centre.

The scheme will be closely watched by other popular tourist destinations, overwhelmed with travellers around the world.

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Pubs in UK declining by thousands, new research

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It’s no secret Brit’s love their Pub Grub, but plating up Bangers and Mash is a tradition on the decline

The number of pubs in England and Wales is continuing to fall, hitting its lowest level on record this year

After struggling through Covid the industry now faced soaring prices and higher energy costs, it warned.

There were just under 40-thousand pubs in June, down by 7,000 in the past decade, according to new research.

In fact, thousands of pubs have closed as younger people drink less, supermarkets sell cheaper alcohol and the industry complains of being too heavily taxed.

Pubs which had “disappeared” from the communities they once served had either been demolished or converted for other purposes, meaning that they were “lost forever”.

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