Ann: Update on Loyyal Investment, page-117

Good find.

Still sounds marginal to me, and the description of the benefits sounds like the sort of second-order, weak-sauce things you say when you need to say something nice about a project that didn't really do much. It's not really in Emirates' interest to say: "we put a bunch of effort into a project that didn't really achieve anything". They also clearly aren't paying very much for it, either, as Loyyal is still running around raising money left, right and centre all for a tiny headcount (implying they are broke). If they were getting a lot of money out of this, and raising money for actual growth, they'd have more than a couple tech people.

My guess is that this situation will tick on in more or less identical fashion and we'll be having the same conversation in a year.