Emirates Airline Plans to Operate About 70% Of Capacity by Winter

An Emirates plane is seen at Lisbon's airport, Portugal June 24, 2016. REUTERS/Rafael Marchante
An Emirates plane is seen at Lisbon's airport, Portugal June 24, 2016. REUTERS/Rafael Marchante
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Emirates Airline Plans to Operate About 70% Of Capacity by Winter

An Emirates plane is seen at Lisbon's airport, Portugal June 24, 2016. REUTERS/Rafael Marchante
An Emirates plane is seen at Lisbon's airport, Portugal June 24, 2016. REUTERS/Rafael Marchante

Emirates plans to operate around 70% of its normal capacity this winter thanks to an expected increase in international travel as countries ease coronavirus restrictions and reopen borders.

Emirates, the world's biggest long-haul airline before the pandemic, has been gradually rebuilding its network of 157 passenger destinations since flights were grounded in March 2020.

It is currently operating to around 120 destinations, though capacity remains limited due to the continued grounding of most of the airline's 118 Airbus A380 superjumbos.

"We already have a plan to get back to almost 70% of our capacity to be recovered by winter 2021," Emirates Chief Commercial Officer Adnan Kazim told reporters on Tuesday.

He did not disclose its current operating capacity, although he added that the airline had a way to go to reach 70%.

Emirates has mainly been operating flights with its 151 Boeing 777s though with passenger demand still at very low levels globally those planes have mostly carried cargo.

Kazim said the airline expects to operate around 30 to 40 Airbus A380s over the summer, more than what it is currently operating.

The restoration of capacity largely depends on countries easing coronavirus restrictions and whether they permit international travel.



IMF Approves Third Review of Sri Lanka's $2.9 Bln Bailout

Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
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IMF Approves Third Review of Sri Lanka's $2.9 Bln Bailout

Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage

The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the economy remains vulnerable.
In a statement, the global lender said it would release about $333 million, bringing total funding to around $1.3 billion, to the crisis-hit South Asian nation. It said signs of an economic recovery were emerging, Reuters reported.
In a note of caution, it said "the critical next steps are to complete the commercial debt restructuring, finalize bilateral agreements with official creditors along the lines of the accord with the Official Creditor Committee and implement the terms of the other agreements. This will help restore Sri Lanka's debt sustainability."
Cash-strapped Sri Lanka plunged into its worst financial crisis in more than seven decades in 2022 with a severe dollar shortage sending inflation soaring to 70%, its currency to record lows and its economy contracting by 7.3% during the worst of the fallout and by 2.3% last year.
"Maintaining macroeconomic stability and restoring debt sustainability are key to securing Sri Lanka's prosperity and require persevering with responsible fiscal policy," the IMF said.
The IMF bailout secured in March last year helped stabilize economic conditions. The rupee has risen 11.3% in recent months and inflation disappeared, with prices falling 0.8% last month.
The island nation's economy is expected to grow 4.4% this year, the first increase in three years, according to the World Bank.
However, Sri Lanka still needs to complete a $12.5 billion debt restructuring with bondholders, which President Anura Kumara Dissanayake aims to finalize in December.
Sri Lanka will enter into individual agreements with bilateral creditors including Japan, China and India needed to complete a $10 billion debt restructuring, Dissanayake said.
He won the presidency in September, and his leftist coalition won a record 159 seats in the 225-member parliament in a general election last week.