The Dubai government is considering putting the Emirates Airline Group and its units public on the Dubai Stock Exchange; In light of the emirate's plan to offer 10 government companies.
According to Arabiya Net, the group's chairman, Sheikh Ahmed bin Saeed Al Maktoum, told Bloomberg Agency, saying that Emirates Airlines and its units may be offered on the Dubai Stock Exchange.< /p>
The statements come as the emirate steps up efforts to catch up with Abu Dhabi and Riyadh, which were the hottest IPO markets in the Middle East during 2021.
Emirates has faced pressure during the pandemic with the airline industry being hit, as it made its first losses in decades due to the coronavirus closures and their impact on international travel, while the government invested about 3.7 billion dollars over the past year in the company.
While the tourism sector in the UAE has recently boomed due to high vaccination rates and low infection rates, Dubai has recently attracted thousands of visitors and events.
Emirates President Tim Clark said last month that the airline aims to restore its entire network by mid-2022.
The Chairman revealed that Emirates Airlines may also consider listing subsidiaries. This could include dnata, which operates in freight, ground handling, catering, retail and travel services, which has seen demand return quickly after flight and travel restrictions linked to the pandemic were eased.
Revenue in that unit rose 55% to $1 billion in the first half and turned into a profit of $23 million from a $396 million loss in the same period last year. .
Meanwhile, the major airline reported a net loss of $1.6 billion in the first half of the year, less than half of the losses in the first six months of the previous year. Revenues increased by 81%
