Emirates Airline, one of the leading airlines in the United Arab Emirates (UAE), announced an upcoming innovation in which the company will begin accepting payment for services in bitcoins. As the chief operating officer of the company, Adel Ahmed al-Redha, put it, advanced digital solutions (blockchain, metaverse and cryptocurrency) will be used as part of the developed strategy for faster and more flexible interaction with customers.
Emirates Airline will hire additional staff to develop customer tracking solutions. The airline also expects to develop blockchain-based technologies for tracking aircraft data. In addition, it is planned to sell its own NFTs on the Emirates Airline website.
The statement of the head of the airline did not indicate the timing of the start of accepting bitcoins as payment for services, as well as the timing of the launch of the other projects mentioned.
2021 FY results
According to the results of the 2021 financial year (ended for the company on March 31 this year), Emirates Airline reduced its losses to $1.1 billion, which is $4.4 billion less than in the 2020 financial year. The company’s revenue rose 91% to $16.1 billion. In fiscal 2021, Emirates Group invested $2.2 billion in new aircraft and transportation infrastructure to prepare the business for recovery and growth from the global downturn due to pandemic and restrictions on international flights. In addition, for the 2021 financial year, the company expanded the staff by 13%.