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Profits up for Emirates Air, but revenue down amid pandemic
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DUBAI – The Middle East's biggest carrier, Emirates, announced on Sunday profits of $288 million over the past year even as revenue declined due to flight suspensions sparked by the coronavirus, offering a glimpse of the financial toll now facing airlines around the world.
The Dubai-based carrier said that although profits were up by 21%, revenue had dipped by 6% to $25 billion over the past fiscal year, which ended March 31.
The airline said the erosion of its revenue was mainly because of the suspension of flights in March due to the pandemic and planned runway closures at its hub in Dubai International Airport, which is the world’s busiest for international passengers. “From mid-February things changed rapidly as the COVID-19 pandemic
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