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
Stronger together? Reviewing Emirates' historic partnership with Qantas

Stronger together? Reviewing Emirates' historic partnership with Qantas

One year after the “historic” Emirates-Qantas partnership deal...

Air Arabia to use tried and tested model in Ras Al Khaimah

Air Arabia to use tried and tested model in Ras Al Khaimah

Air Arabia signed an agreement last month to become the official...

Is Saudi Arabia ready for take off?

Is Saudi Arabia ready for take off?

Saudi Arabia has announced two new airlines and $30bn worth of...

1
Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams