The Emirates Group has seen sales fall by 75 percent in the first half of 2020. The parent company of Emirates and ground handler dnata suffered a net loss of 3.3 billion euros in the half financial year.
The current crisis has dramatically reduced the number of passengers flying with Emirates. The airline could not operate passenger flights in April and May due to COVID, and now it is mainly cargo that is responsible for the turnover. “It is the first time in thirty years that we have suffered a loss in the first half year,” said Chairman of the Board Sheikh Ahmed bin Saeed Al Maktoum.
To cut costs, the workforce was reduced by 24 percent between March and September. Three aircraft also left the fleet. At the same time, the government invested an additional 1.7 billion euros in the company.
Most flights are currently operated with Boeing 777-300ERs. Fourteen of these have been converted into temporary cargo aircraft by removing all seats from Economy Class. The airline has also started using Airbus A380s as cargo aircraft on some routes.