Emirates says Europe is biggest revenue driver despite 5% drop

European markets generate $6.5bn for Dubai airline in last financial year, ahead of East Asia and Australasia
Emirates says Europe is biggest revenue driver despite 5% drop
By Staff writer
Sat 14 May 2016 08:41 AM

Europe was the biggest revenue earning region for Emirates Airline during the past financial year. generating $6.5 billion, the carrier said on Tuesday.

The Dubai-based airline said revenue generated from across its six regions continued to be well balanced, with no region contributing more than 30 percent of overall revenues.

Europe was the highest revenue contributing region although revenue was down by 5 percent from 2014-15.

East Asia and Australasia followed closely with $6.1 billion, down 9 percent while the Americas region recorded revenue growth at $3.3 billion, up 9 percent.

Africa and Gulf and Middle East revenue decreased each by 3 percent to $2.5 billion and $2.3 billion respectively while West Asia and Indian Ocean revenue decreased by 4 percent to $2.1 billion.

Emirates Airline posted record profits for the 2015/16 financial year, with earnings up by 56 percent to $1.6 billion.

The world’s largest international carrier saw its passenger numbers rise by 8 percent to 51.9 million over the same period, while capacity increased by 11 percent.

The Emirates Group posted a total profit of $2.2 billion for the financial year, up 50 percent from last year.

The Group’s employee base across its more than 80 subsidiaries and companies increased by 13 percent to over 95,000.

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.

Carrying a record 51.9 million passengers (up 8 percent), Emirates achieved a passenger seat factor of 76.5 percent, down from 79.6 percent in the previous year.

Emirates SkyCargo continued to play an integral role in the company’s expanding operations, contributing 14 percent of the airline’s total transport revenue.

Emirates’ cargo division reported a revenue of $3.0 billion, a decline of 9 percent over last year, while tonnage increased by 6 percent to reach 2.5 million tonnes.

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