DUBAI: Dubai’s Emirates expects to significantly reduce losses in the current financial year and return to profit next year, the airline’s president indicated on Tuesday.
“We are in for a good set of results, we haven’t reversed it completely but we have swung it,” Tim Clark told reporters, adding the carrier had been cash-positive since October.
“We’ve swung the business back to profitability, we are cash-positive again big time, we have a very strong balance sheet again which we have been rebuilding,” Clark said.
“We are forecasting profits next year and hopefully to pay a dividend and repay some of the equity that the government has put into the business,” he added.
The carrier’s financial year runs through March.
