Emirates Air lost $1 billion, but that’s an 80% improvement

DUBAI, United Arab Emirates (AP) — One of the world’s biggest airlines and the Mideast’s top carrier, Emirates Air, says it lost $1.1 billion in the past fiscal year, but the figure is an 80% improvement from the year before. As Emirates Air claws it way out of the worst of the pandemic, its main hub of Dubai International Airport remains the busiest in international travel. The airline said Friday revenue was up 91%, reaching $16.1 billion. Emirates expects to climb out of the red and see profits this year as it plans to start paying back its shareholder, the Dubai government, some of the $4 billion it threw the airline to stay afloat amid COVID-19 lockdowns.