Emirates Airlines, a major airline based in the UAE, said last year was unprofitable.
The losses caused by the coronavirus pandemic amounted to a whopping $5.5 billion. It is noted that the company reported a loss for the first time in the last 30 years.
At the same time the company’s profit last year was $ 288 million. Overall, revenues fell by 66%.
“The COVID-19 pandemic continues to take a huge toll on human lives, harming communities, the economy, as well as the aviation and tourism industries,” the company said in a statement.
The company said Emirates Airlines has been hit hard because demand for international flights has fallen, as most countries have closed their airspace and imposed strict travel restrictions.