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Thursday, September 28, 2023

Emirates: Strong Passenger Demand Exceeds Forecasts

Emirates airline in Dubai announced on Tuesday that passenger demand remains exceptionally high, surpassing their initial expectations and forecasts. Adel Ahmed Al Redha, the Chief Operating Officer, expressed confidence that this trend will persist, as the aviation sector continues to recover strongly from the pandemic.

“Across our networks and in every country we serve, demand remains robust and has exceeded our projections. We anticipate this demand will continue to grow,” Al Redha stated during the Global Conference for Shaping Future Policies of Ports in Dubai.

Emirates reported a remarkable turnaround in the previous fiscal year, with a profit of Dh10.6 billion, a significant improvement from the Dh3.9 billion loss in the prior year. Revenues reached Dh107.4 billion, with a cash balance of Dh37.4 billion.

In August 2023, Emirates had one of its busiest summers ever, carrying over 14 million passengers with seat load factors consistently exceeding 80 percent across its global network from June to August. Dubai’s year-round appeal as a tourist destination has been a significant benefit for Emirates and other local carriers in the post-pandemic era.

Other airlines in the country also reported strong profits in 2022 due to the surge in travel, often referred to as “revenge travel,” as more people ventured out post-pandemic. Air Arabia reported a Dh1.2 billion profit in 2022, a 70 percent increase, while flydubai achieved a historic profit of Dh1.2 billion in 2022, a 43 percent rise compared to 2021.

Al Redha emphasized the importance of the travel and tourism sectors to GDP for various countries during the pandemic. He also highlighted the significance of utilizing new technologies to address challenges related to airport infrastructure constraints, such as runway operations and terminal congestion, in the face of intense competition among airlines and airports worldwide.

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