UAE-based Emirates Group has posted a loss of Dh22.1 billion ($6 billion) for the financial year ended 31 March, after travel restrictions had a severe impact on its long-haul, hub-focused business. Excluding airport services group Dnata, the carrier's losses hit Dh20.3 billion ($ 5.5 billion), compared with a Dh1.1 billion profit in the previous year, as passenger numbers fell 88% to 6.6 million. The carrier's revenue declined by two-thirds to Dh30.9 billion, impacted by the suspension of activity at Dubai in the early part of the year and the subsequent weak recovery. The loss represents the first in Emirates' 30 year history, and the company required a Dh11.3 billion bailout from its ultimate shareholder, the government of Dubai. “No one knows when the pandemic will be over, but we know recovery will be patchy," states Emirates Group chief executive Ahmed bin Saeed Al Maktoum. "Economies and companies that entered pandemic times in a strong position, will be better placed to bounce back." He adds: "Until 2020-21, Emirates and Dnata have had a track record of growth and profitability, based on solid business models, steady investments in capability and infrastructure, a strong drive for innovation, and a deep talent pool led by a stable leadership team. These fundamental ingredients of our success remain unchanged. "Together with Dubai’s undiminished ambitions to grow economic activity and build a city for the future, I am confident that Emirates and dnata will recover and be stronger than before.” The carrier took action to rein in costs, reducing its workforce by 31% to 75,000 employees and trimming its fleet by net 11 units, having received three new Airbus A380s and retired nine Boeing 777-300ER's and five A380's. It also sought to restructure its financial obligations, renegotiate contracts and consolidate its operations. These combined efforts contributed to Dh7.7 billion in annual savings. Overall operating costs were down by 46%. "Emirates' orderbook for 200 aircraft remains unchanged at this time," it highlights. "The airline is firmly committed to its long-standing strategy of operating a modern and efficient fleet, which underscores its 'Fly Better' brand promise, as young aircraft are better for the environment, better for operations, and better for customers." Amid ongoing investment in its facilities and equipment, the carrier believes it is set to benefit when the recovery does arrive, including via its new premium-economy cabins for its A380s. Cargo revenue represented a bright spot, increasing 53% to Dh17.1 billion, as freight rates rocketed on reduced capacity levels. As it sought to bolster capacity the airline rapidly converted 19 passenger Boeing 777-300ERs into "mini freighters", with seats removed, although the reduction in its passenger services means that tonneage carried still decreased by 22%. Airport services unit Dnata made loss of Dh1.8 billion, as revenue fell 62% to Dh5.5 billion. Emirates Group ended the period with Dh19.8 billion ($5.4 billion) in cash.

South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) has imposed fines totaling W941 million ($840,000) on Jeju Air, Korean Air and Asiana Airlines for violating safety rules. Furthermore, two pilots and two mechanics were each suspended for 30 days, MOLIT says in a Korean-language statement dated 11 June. Jeju Air was fined a total of W888 million in relation to aircraft damage during take-off and landing, and its mechanics and pilots suspended for negligence. The low-cost carrier was fined W666 million for a 10 March incident in which there was wing-tip damage, while a 17 February incident involving scratches on the rear fuselage drew a W222 million fine. Separately, Korean Air was fined W33 million and Asiana Airlines W20 million for operating aircraft without back-up flightcrew despite prior knowledge during flight planning that the pilot would exceed duty hours. MOLIT is deliberating a potential third violation by Jeju Air, as well as a temporary suspension of other aviation workers. It will finalise these deliberations in July after collecting opinions from involved parties. The ministry says it takes a strict view of air safety and plans to focus on supervising the education and training of aviation workers who have returned to work after downtime amid Covid-19's impact on traffic.

Swiss regional carrier Helvetic Airways will station two Embraer E-Jets at Basel-Mulhouse-Freiburg airport to serve holiday destinations from 10 July. Zurich-based Helvetic says it will be its first time to operate from the airport, which serves a region straddling Switzerland, France and Germany. Helvetic will operate "weekend services" to Greek island Santorini, Spanish city Jerez, Larnaca in Cyprus and Pristina in Kosovo from Basel-Mulhouse-Freiburg, it says. Chief executive Tobias Pogorevc states: “With a catchment area that extends from the Swiss Mittelland to Alsace and Southern Germany, the EuroAirport offers a lot of potential and the demand for vacation air travel is very high." The airline says that gradual easing of entry restrictions in some EU member states, a planned Covid certificate and progress in the vaccination effort have contributed to "a tangible increase in demand for vacation travel". Flights will be operated with 112-seat, first-generation Embraer 190s or 134-seat E195-E2's. Earlier this month, Latvian charter and wet-lease carrier SmartLynx Airlines stationed an Airbus A320 at Basel-Mulhouse-Freiburg airport to operate flights for travel group TUI. Data shows that EasyJet and its Swiss subsidiary are by far the largest operators at the gateway, followed by central European budget carrier Wizz Air, Turkish airline Pegasus and KLM's regional unit Cityhopper.