How is Emirates recovering compared to before Covid and what are the main drivers?
Emirates has restored over 90% of its pre-Covid network and over 80% of capacity. We have expanded our operations by resuming routes suspended due to the pandemic, adding more flights and using our A380 where possible to increase capacity in response to growing demand. We launched the new route to Miami in 2021 and Montreal in 2023. This year, we will launch Bogota in June and in May we will also resume services to Phnom Penh, while in October we will fly to Adelaide. The data is proving us right: in 2023, we recorded one of our busiest summers, carrying – between June and August – over 14 million passengers with an average seat occupancy rate of more than 80% across our entire global network . For the 2022-23 financial year, which ended March 31, 2023, Emirates Group announced record profits of Dh10.9 billion ($3.0 billion) compared to a loss of $3.8 billion Dirhams (one billion dollars) the previous year.
Our Dubai hub was one of the first cities to open in 2020, as the cargo division remained active during Covid to facilitate the shipment of relief products, including food and medical supplies. Additionally, we have introduced innovative solutions to offer an extra level of reassurance to travellers, including the biometric pathway at Dubai International Airport, as well as self check-in and bag drop kiosks. Our flexible booking policies and accelerated refunds during Covid have been well received by passengers.
Long-distance travel was the last to resume after the pandemic. From your point of view, how has the demand for long haul changed?
Demand for long-haul travel has undergone significant changes as a result of the pandemic. Initially there was a sharp decline in this type of travel due to various restrictions, border closures and passengers’ reluctance to fly for health reasons. With the reopening, there has been a search by passengers for longer journeys to exotic destinations. In contrast, demand for business travel slowly recovered as virtual meetings and remote working arrangements were favored. A trend that is now decreasing in favor of a greater return to travel, even for work reasons.