Emirates airline’s financial results for the first half of 2021 announced recently has come with good tidings for the UAE’s economy that is witnessing a post-pandemic rebound.
Emirates has been quick to respond to the reopening of key international routes that saw its revenues surging by 81 per cent to Dh24.7 billion, while drastically reducing its losses to Dh5.7 billion from last year’s Dh14.1 billion.
The substantial revenue recovery was the direct outcome from the steady easing of travel restrictions worldwide since summer, and the corresponding increase in demand for air transport as countries moved ahead with their Covid-19 vaccination programmes.
A closer look at the numbers show the airline’s half-year financial performance is supported by strong growth in both passenger numbers and cargo volumes.
Going beyond the financials, the rapid surge in passenger numbers and cargo volumes point to overall economic recovery taking shape across the UAE.
With the gradual opening of international borders, the travel demand is picking up, boosting the prospects of key non-oil sectors such as tourism, hospitality and international trade that have direct linkages to aviation.
The first half 2021-22 numbers of Emirates may not have fully captured the impact of Expo 2020 on its passenger traffic, cargo volumes and revenue growth. However, indicators from other sectors show a significant revival directly linked to Expo.
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