Dubai – Emirates, the world’s largest long-distance operator, announced on Sunday that requests to travel 18 months ago did not become “normal” anymore because the coronavirus virus reduced the number of passengers in its final fiscal year, which ended 31. March The company also reported “inefficiencies fuel safety “at the end of the period.
Emirates, the owner of the largest fleet of Boeing A380 and 777, suspended most of its passenger operations in March when the UAE canceled flights without cargo and evacuation flights. Emirates resumed limited one-way flights on April 6, saying limited passenger flights were carried out on May 9 to transport passengers from selected destinations back to the UAE.
“We estimate it will take at least 18 months to find a trip to look normal again,” said a statement from Sheikh Ahmed bin Saeed al-Maktoum, President of Emirates.
“Meanwhile, we are actively working with regulators and related stakeholders to set the health and safety standards of passengers and operators in the post-pandemic world.”
Scheduled flight stops in the UAE have pressured regional and even global fuel demand.
According to S&P Global Platts Analytics, aviation fuel consumption in the UAE alone accounts for more than 30% of aviation fuel consumption in the Middle East region in 2019 and more than 2.5% of global aviation fuel demand. Requests do not include refueling for international flights in the UAE.
The company’s fuel bill, the airline’s biggest cost component, declined in the last fiscal year when oil prices fell. The average price of jet fuel fell 9% in the fiscal year ended March 31, compared with 22% a year earlier, Emirates said.
“Including a 6% reduction in line with capacity reduction, airline fuel bills fell 15% last year to AED 26.3 billion ($ 7.2 billion), or 31% of operating costs, compared to 32% in 2018-19,” he said.
Emirates said it was carrying 56.2 million passengers in the last 12 months, down 4% from the previous period.
The volume of shipments fell 10% to 2.4 million tons, “due to reduced capacity due to Boeing 777 cargo withdrawal and reduced stomach capacity available in the first and last quarters of this year,” the statement said.
Overall revenue for the year fell 6% to 92 billion dirhams, reflecting the planned 45-day runway closure and suspension of passenger flights in March. However, total profits increased 21% to 1.1 billion dirhams and would have been even higher if it had not been for the loss of 1.1 billion dirhams due to “inefficiency in securing fuel at the end of the year”.
According to a report by the International Air Transport Association, the UAE aerospace industry is expected to lose $ 6.8 billion in revenue, compared to a 53% decrease in passenger numbers in 2019 from a previous estimate of $ 5.36 billion. last month. IATA represents 290 airlines, which corresponds to 82% of global air traffic. The UAE airline industry is the second worst affected by the Corona virus outbreak after Saudi Arabia.