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Emirates Group Reports Profits in 2019-20

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Emirates Group Reports Profits in 2019-20

KARACHI  -The Emirates Group today announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter.

Released today in its 2019-20 Annual Report, the Emirates Group posted a profit of AED 1.7 billion (US$ 456 million) for the financial year ended 31 March 2020, down 28% from last year. The Group’s revenue reached AED 104.0 billion (US$ 28.3 billion), a decline of 5% over last year’s results. The Group’s cash balance was AED 25.6 billion (US$ 7.0 billion), up 15% from last year mainly due to a strong business performance up to February 2020 and lower fuel cost compared to the previous year.

Due to the unprecedented business environment from the ongoing pandemic, and to protect the Group’s liquidity position, the Group has not declared a dividend for this financial year after last year’s dividend of AED 500 million (US$ 136 million) to the Investment Corporation of Dubai.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and Chief Executive, Emirates Airline and Group, said: “For the first 11 months of 2019-20, Emirates and dnata were performing strongly, and we were on track to deliver against our business targets. However, from mid-February things changed rapidly as the COVID-19 pandemic swept across the world, causing a sudden and tremendous drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions.

“Even without a pandemic, our industry has always been vulnerable to a multitude of external factors. In 2019-20, the further strengthening of the US dollar against major currencies eroded our profits to the tune of AED 1.0 billion, global airfreight demand remained soft for most of the year, and competition intensified in our key markets.

“Despite the challenges, Emirates and dnata delivered our 32nd consecutive year of profit, due to healthy demand for our award-winning products and services, particularly in the second and third quarters of the year, combined with lower average fuel prices over the year.

“Every year we are tested on our agility and ability. While tackling the immediate challenges and taking advantage of opportunities that come our way, our decisions have always been guided by our long-term goal to build a profitable, sustainable, and responsible business based in Dubai.”

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itel Energy showcases AI-powered solar solutions at Lahore expo

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LAHORE – itel Energy concluded its participation as a diamond sponsor at the Lahore Solar Expo 2026 on April 22, presenting a range of renewable energy solutions aimed at strengthening Pakistan’s energy resilience.

The three-day exhibition attracted industry professionals and technology enthusiasts, with the company using the platform to introduce its latest innovations in solar and energy storage technologies.

A key highlight of the showcase was the Sparta Series hybrid inverter, featuring an AI-based optimisation system branded as SmartGo AI. According to the company, the system monitors weather patterns and adjusts battery usage automatically to maintain uninterrupted power supply during adverse conditions.

itel Energy also presented its Power Series portable energy solutions, which it said are equipped with Grade A lithium iron phosphate (LiFePO4) cells designed to ensure durability and a lifespan of up to 10 years.

In addition, the company demonstrated its commercial and industrial (C&I) energy systems, including the IPX-51314SPT battery solution. The system is designed to support scalable energy storage, allowing businesses to expand backup capacity up to 768kWh.

Speaking at the event, itel Energy Vice-President Eason Duan said the company’s “Power Up Pakistan” initiative focuses on providing reliable and intelligent energy solutions to households and industries.

The company said its participation in the expo reflects a broader commitment to promoting sustainable energy adoption and supporting the country’s transition towards cleaner power sources.

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Saad Ali Qureshi launches USPBA Pakistan chapter to promote trade and investment

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LAHORE – The US–Pakistan Business Alliance (USPBA) was successfully launched under Chairman Saad Ali Qureshi, COO of Rustum Associates and Dynamic Constructors. This marks a key advancement in boosting bilateral trade, investment, and economic collaboration between Pakistan and the United States.

The newly formed alliance aims to create a dynamic platform that connects entrepreneurs, investors, industry leaders, and professionals from both countries. By fostering collaboration and building strategic partnerships, the alliance seeks to unlock new opportunities for trade expansion, innovation, and sustainable economic growth.
Addressing the launch ceremony, Chairman Saad Ali Qureshi emphasized the importance of stronger economic ties between Pakistan and the United States. He stated that the US–Pakistan Business Alliance will play a vital role in bridging the gap between the business communities of both nations and facilitating meaningful partnerships.

“The establishment of the US–Pakistan Business Alliance is a major milestone in strengthening commercial relations between Pakistan and the United States. Our mission is to empower entrepreneurs, promote investment opportunities, and create a supportive platform where businesses from both countries can collaborate and grow together,” said Saad Ali Qureshi.

He further added that the alliance will focus on encouraging cross-border investments, supporting startups and emerging businesses, and promoting innovation across various sectors, including technology, manufacturing, trade, and services.

The alliance also plans to organize international business forums, networking events, trade delegations, and policy dialogues aimed at bringing together business leaders, policymakers, and investors. These initiatives will help facilitate knowledge exchange, strengthen economic partnerships, and promote mutual understanding between the private sectors of both countries.

Business leaders, entrepreneurs, and stakeholders welcomed the launch of the alliance and expressed optimism that the platform will open new avenues for cooperation and create long-term opportunities for trade and investment. They noted that such initiatives are essential for building stronger economic bridges and enhancing global business connectivity.

The launch of the US–Pakistan Business Alliance is being viewed as a positive and forward-looking development that will contribute to the expansion of bilateral trade, encourage foreign investment, and strengthen long-term economic collaboration between Pakistan and the United States.

Through its initiatives and partnerships, the alliance aims to become a key platform for promoting business growth, supporting economic diplomacy, and fostering stronger commercial ties between the two nations.

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CBD Pulse emerges as Punjab’s strongest signal to global investors

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 LAHORE – In today’s competitive global economy, where investors favour stability, growth potential, and quick returns, Central Business District Punjab (CBD Punjab) emphasises this message through CBD Pulse: Punjab is prepared for investment, and the moment to invest is now.

CBD Pulse is not just another promotional campaign; it is a strategic investment signal aimed at attracting serious investors, visionary developers and international partners. It reflects real momentum driven by execution and showcases a pipeline of high-value urban assets positioned to generate strong, long-term returns.

At a time when investors prioritize transparency and stability, CBD Punjab distinguishes itself through structured planning, regulatory clarity and rapid on-ground development. CBD Pulse brings this ecosystem into focus, highlighting premium commercial districts, high-yield real estate opportunities and modern infrastructure built to meet global standards.

What sets CBD Pulse apart is simple it is grounded in visible progress, not future promises. From accelerated development across key corridors to the rollout of strategically located projects, CBD Punjab is turning ambition into tangible results. The approach is clear prioritize speed, ensure delivery and maximize value creation.

For institutional investors, developers and strategic stakeholders, CBD Pulse offers a compelling advantage early entry into a rapidly growing urban market. With Pakistan’s urban expansion accelerating and demand for organized commercial infrastructure increasing, CBD Punjab is uniquely positioned to capture this growth at scale.

The initiative also reflects a strong pro-investment environment, backed by government support, streamlined procedures and investor-focused policies. These elements reduce barriers to entry while strengthening investor confidence an essential factor for both local and international participants.

CBD Pulse is designed to keep investors informed and engaged. Through regular updates, data-driven insights and direct communication channels, it ensures decision-makers have timely access to critical information. In fast-moving markets, timing and access are everything and CBD Pulse delivers both.

More than just infrastructure, CBD Pulse represents a shift in perception. It positions Punjab as a credible, competitive investment destination on the global stage. The objective is clear: attract capital, enable growth, and deliver measurable outcomes.

For those looking to invest in the future of urban Pakistan, the opportunity is open but not indefinitely. Early movers are best positioned to benefit as CBD Punjab continues to expand and unlock new value. CBD Pulse is more than an initiative it is a call to action. The investments made today will shape the skyline of tomorrow.

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