DUBAI: Emirates has issued $1.4 billion in refunds to customers affected by COVID-19 travel restrictions, the Dubai airline said in a statement.
More than 1.4 million refund requests have been completed since March, representing 90 percent of the Dubai airline’s backlog.
This includes all requests received from customers around the world up until the end of June, except for a few cases which require further manual review, Emirates said, even as it increased its capacity to process refund requests
“We understand that from our customers’ standpoint, each pending refund request is one too many. We are committed to honoring refunds and are trying our utmost to clear the massive and unprecedented backlog that was caused by the pandemic,” Tim Clark, the president of Emirates, said in the statement
“Most cases are straightforward, and these we will process quickly. But there are cases which will take a bit more time for our customer teams to manually review and complete. We are grateful to our customers for their patience and understanding.”
Emirates reopened commercial flights on May 21 with services to an initial nine cities – London, Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne – and has since widened its network to 84 destinations.
The Middle East’s largest carrier, which has a fleet of 270 wide-bodied aircraft, halted operations in late March after the coronavirus pandemic stalled global air travel.
Dubai’s Emirates refunds $1.4 billion to customers affected by COVID-19 travel restrictions
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Dubai’s Emirates refunds $1.4 billion to customers affected by COVID-19 travel restrictions
- More than 1.4 million refunds requests have been completed since March
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
