DUBAI: Dubai-based airline Emirates expects to resume flights to all “network destinations” by summer 2021, its chief operating officer said Thursday, after the coronavirus pandemic halted most global air travel.
The Middle East’s largest carrier, which has a fleet of 270 wide-bodied aircraft, halted operations in late March.
Shortly afterwards, it resumed limited passenger flights focused on repatriations and has since been gradually expanding its network after Dubai eased travel restrictions to revive its tourism industry.
“I think we can easily say by summer 2021, we’ll be serving 100 percent of our network destinations,” Adel Al-Redha told CNBC.
Redha said the airline will serve 143 destinations by summer next year, down from 157 before the crisis.
“Obviously the... frequency of flights per day will depend on the demand and some of the restrictions that will need to unwind from some airports and some countries.”
According to the Emirates website, the airline currently serves 70 destinations.
“If I compare our performance now with a month ago, we have almost doubled the number of passengers we have been carrying onboard our aircraft,” Redha said.
Emirates president Tim Clark has previously said that it could take up to four years for operations to return to “some degree of normality” and the airline could lay off up to 15 percent of its staff.
The airline has announced several rounds of layoffs, without disclosing numbers.
Before the virus hit, Emirates employed some 60,000 staff, including 4,300 pilots and nearly 22,000 cabin crew, according to its annual report.
Tourism has long been the economic mainstay of Dubai, which welcomed more than 16 million visitors last year. Before the pandemic crippled global travel, the aim was to reach 20 million this year.
Emirates to serve all ‘network destinations’ by summer 2021
https://arab.news/29jzx
Emirates to serve all ‘network destinations’ by summer 2021
- Emirates halted operations in late March
- COO said the airline will serve 143 destinations by summer next year
Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness
RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.
The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.
Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).
Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.
National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.
Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.
On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.
Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.
In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.
