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The president of Emirates said that he believes the fourth wave of the coronavirus pandemic from Europe is related to the airline.
In an interview with CNBC Dubai AirshowEmirates President Tim Clark said: “I see that the fourth wave is coming, and we have all kinds of concerns about what might happen.”
“We have to look at it very carefully, because if the European market, which has already begun to open on a large scale, starts to go another way, we will have to deal with it. But we will deal with it… We are very good at solving problems, we will only do What we have to do,” he told CNBC’s Hadley Gamble.
Earlier this month, the World Health Organization warned that Europe is again at the center of the Covid pandemic. The largest economy in the region, Germany, currently reporting approximately 50,000 new coronavirus cases every day, France also reported a surge in cases.At the same time, Austria is expected to Impose lockdown restrictions on millions of unvaccinated people To curb the rising infection.
Airlines have always hoped that the Dubai Airshow will mark a turning point in the industry after a devastating period. This is the first large-scale aerospace exhibition held since the beginning of the coronavirus pandemic, and travel restrictions around the world have destroyed the entire industry.
The International Air Transport Association said last month, The global aviation industry is expected to lose nearly US$12 billion next yearThe International Air Transport Association, which operates on behalf of nearly 300 airlines, added that the industry’s losses in 2020 will be more serious than originally thought, reaching 137.7 billion U.S. dollars.
However, Clark said that Emirates’ demand has increased significantly and it is beginning to make a profit.
“I dare say that we are rebounding with a high degree of robustness,” he said. “Demand is picking up at such a rapid rate. Frankly speaking, we are having difficulties in supplying assets because we lack pilots, we lack crew, we lack almost everything. But there is no lack of demand, which is a very good one. s story.”
Clark highlighted the difficulties that Emirates faced in recruiting enough staff to meet this demand after layoffs during the pandemic.
“You are talking about supply chain disruptions, you are talking about severe distortions in the labor market,” he said, adding that he expects to return to some sense of normalcy by the end of 2022 and early 2023. “I think then… the heat will come out of this situation. Anyway, I hope.
Another potential headwind for airlines is rising oil prices. The demand shock caused by the Covid pandemic dropped the price of Brent crude oil to $20 a barrel; they are now trading 80 USD A bucket.
But Clark said he was not worried. “Of course, 80 dollars-we have been there before. We are much higher than before,” he added. “Currently, we are managing it. Anyone can guess what will happen; I think we have gone through about 15 months of turbulence, but we will be fine.”
— Leslie Joseph of CNBC contributed to this report.
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