Emirates Group Records New Profit Of $2.2 billion

Emirates Group records 28th consecutive year of profit, and new record profit of AED 8.2 billion ($2.2 billion); steady business growth in line with capacity increases, significant investment in the business of AED 17.3 billion ($ 4.7 billion); declares a dividend of AED 2.5 billion ($ 681 million) to the Investment Corporation of Dubai.

Emirates makes the highest profit ever with AED 7.1 billion ($1.9 billion). Airline capacity crosses 56 billion ATKM with 29 new aircraft added to the fleet. Revenue decreases by four percent to AED 85.0 billion ($ 23.2 billion), after AED 6.0 billion (US$ 1.6 billion) hit unfavorable currency exchange. Dnata makes highest profit ever, crossing AED 1bn ($ 287 million) for the first time. Revenue of AED 10.6 billion ($ 2.9 billion) reflects the further business expansion, with international business now accounting for over 64 per cent of revenue

Emirates received 29 new aircraft, its highest number during a financial year, including 16 A380s, 12 Boeing 777-300ERs and one Boeing 777F, bringing its total fleet count to 251 at the end of March. At the same time nine aircraft were phased out, taking the average fleet age down to 74 months or approximately half the industry average of 140 months.

The airline remains the world’s largest operator of the Boeing 777 and A380 – both aircraft being amongst the most modern and efficient wide-bodied jets in the sky today.

With the delivery of new aircraft, Emirates launched eight new passenger destinations: Bali, Bologna, Cebu, Clark, Istanbul (Sabiha Gökçen), Mashhad, Multan, Orlando; and two new additional freighter destinations: Columbus and Ciudad del Este. It also added services and capacity to 34 cities on its existing route network across Africa, Asia, Europe, the Middle East, and North America, offering customers even greater choice and connectivity.

Credit: Thisday