Video: Emirates airline more than doubled its profit - but what does the future hold?

Wed 16 May 2018 10:08 AM
Emirates Group announced all its employees would receive a five-week bonus this year, after the airline announced its profits more than doubled in its annual results for 2017-18.

The Dubai-based aviation group, which includes airport services firm dnata, announced full year profit of $1.1bn (AED4.1bn) for the financial year ended 31 March 2018, up 67% from last year. Emirates airline reported a profit of $762m (AED2.8bn), an increase of 124% on last year’s results.

At the post earnings announcement this week, Emirates Group chairman and CEO Sheikh Ahmed bin Saeed al Maktoum insisted that people “love to work for Emirates” and said group's well-established bonus scheme encourages greater staff input.

“The bonus is an incentive for staff to continue contributing ideas. The more we save on costs the more profit we make the more we can do this. At certain times we’ve paid anywhere up to 13 weeks. The average since we started the programme has been 4.5 weeks,” he said.

Emirates Group employs over 105,000 staff according to its 2016-17 annual report, roughly a quarter of whom were cabin crew.

Sheikh Ahmed acknowledged “two percent of employees have resigned,” but added that “it is normal” for an organisation of its size.

“I don’t know why everyone is making an issue about staff reductions. People love to work for Emirates,” he said. “A lot of people want to continue forever.”

In this edition of Inside AB, Jeremy Lawrence and Shayan Shakheel discuss the profit announcement and address the rumours of staff shortages.

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(Source: Arabianbusiness.com YouTube channel)