Emirates focuses on growth as profits rise

Emirates focuses on growth as profits rise
By admin


Emirates profits shot up by 68% in the first half of its financial year, despite continued global economic pressure and continued high fuel prices.

The airline posted net profit of AED 2.1 billion (AU$549m) for the half year ended September 31. Its revenue and operating income rose to AED 38.2 billion (AU$9.99b), up 16% year on year.

Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum admitted instability in the market had “put Emirates to the test” but was confident the results “speak for themselves”.

“The Emirates Group half-year performance is the result of hard work and our drive to stay on course and continue to grow despite the precarious marketplace,” he said. “We have continued to invest in the infrastructure of both Emirates and dnata and it continues to pay off.”

Al Maktoum stressed the airline remains focused on growth and global expansion despite ongoing challenges in the form of fluctuating exchange rates and stubbornly high fuel prices.

Fuel accounted for 39% of Emirates’ expenditures over the period, he confirmed, down two percentage points year on year.

The six month period also saw the airline expand its workforce by 8%, taking it to 68,000. In addition, it took delivery of 13 wide-body aircraft including two Airbus A380s and ten Boeing 777s with a further 15 aircraft due to arrive by the end of the financial year.

Meanwhile, the airline continues to await approval of its proposed 10-year global alliance with Qantas, scheduled to start in April 2013.

Latest News

  • Aviation

Low-cost Indian carrier SpiceJet continues to burn cash

It’s not just low-cost Australian carriers that are facing hardship. SpiceJet, India’s version of Bonza, recently announced a 72 per cent reduction in its net loss versus last year. But, despite this improvement, the airline has posted losses for six straight years. But it has secured board approval to raise up to INR 30 billion […]

  • Attractions

SAKA Museum recognised in TIME magazine’s World’s Greatest Places 2024

AYANA Resort Bali’s newly-opened cultural and events centre, SAKA Museum has been recognised in TIME magazine’s World’s Greatest Places list for 2024. Part of AYANA Bali’s resort destination, the museum integrates Bali’s rich history with state-of-the-art facilities, making it the centrepiece for the island’s spiritual and cultural heritage. TIME magazine’s inclusion of SAKA Museum in […]

  • Cruise

Silversea taps Barbara Biffi as senior vice president for global sales

Ultra-luxury and expedition cruise travel brand, Silverseas, has announced Barbara Biffi as its new senior vice president of global sales. Biffi joined the company in 2007, holding numerous positions and gaining a deep understanding of the brand, the preferences of its guests and its strategic goals, the company said. An Italian national with a wealth […]

  • Technology
  • Travel Agents

Amadeus welcomes FCM Travel as new reseller partner of Cytric Easy

Cytric Easy, the travel management tool embedded in Microsoft Teams, is to be integrated into FCM Travel portfolio. Amadeus and FCM Travel have extended their Cytric distribution agreement to include Cytric Easy. With this new agreement, global travel management company FCM Travel, becomes a reseller of the innovative travel management collaboration solution embedded into Microsoft […]