Emirates sees profits more than double in first half

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Sheikh Ahmed bin Saeed Al Maktoum, Emirates' chairman and CEO.

Sheikh Ahmed bin Saeed Al Maktoum, Emirates' chairman and CEO.

Emirates Airline has overcome high oil prices and a depressed global aviation industry to post a 104 percent growth in profits in the first six months of its financial year.

The Dubai-based carrier said its profits rose to US$464m, while Emirates Group profits rose by 68 percent to US$575m. The airline was helped by marginally lower fuel costs as a percentage of total expenditure, which stood at 39 percent, down two percentage points year-on-year.

Group revenue rose by 17 percent to US$8.2bn over the previous period, helped by a seat factor that increased to 80 percent, from 79 percent last year.

The airline – the world’s biggest in terms of international kilometres flown – has carried 18.7m passengers since 1 April this year, a 15.1 percent increase.

The carrier’s freight operation, Emirates SkyCargo, saw a 16 percent rise in volumes carried.

“Emirates remained focused on its growth and global expansion despite on-going fluctuating exchange rates and ever lingering high fuel prices which accounted for 39 percent of our expenditures, down two percentage points from last year,” said Sheikh Ahmed bin Saeed Al Maktoum, Emirates’ chairman and CEO.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

How will passengers’ flight experience be in the future? Advances...

How Gulf banks are helping to underwrite region's aviation boom

How Gulf banks are helping to underwrite region's aviation boom

Figures from Airbus show that 47% of MidEast aircraft deals in...

2
Most Popular
Most Discussed