Emirates doubles profits
EMIRATES, the Dubai-based airline, has announced record annual net profits of £900m, up 52%, despite the challenging aviation sector.
The group, which operates the A380 super-jumbo and runs three daily flights from Manchester to Dubai, said the performance had been achieved in the face of significant political, environmental and economic pressures.
Revenue at the business, which has a call centre in Wilmslow, grew by 25% on last year to £8.87bn.
At Emirates Group, which includes ground handler Dnata, revenue increased by 26.4% to £9.35bn. Operating costs, at £8bn, were 22.7% higher than the previous financial year. This correlated with the rise in fuel prices and increased activity levels plus rising staff numbers. In addition, direct operating costs such as handling, in-flight costs and aircraft maintenance also rose.
Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said in the group’s annual report:“This year’s record results represent our drive to push the boundaries of aviation, questioning the norms and advocating for open and fair competition.
“Despite unforeseen challenges in the form of political instability and shocking natural disasters we have managed, through sheer determination, nimbleness and quick thinking, to produce our best ever result.”
The airline’s fuel bill increased by 41.2% to £2.76bn and accounted for 34.4% of its total operating costs, close to the record highs witnessed in 2008-09. In total, 31.4 million passengers flew with the airline during the year – an increase of 14.5% or four million passengers on last year.
