Airline
Emirates Airlines Net Profit Jumps 165 Percent
Emirates Airlines continues to buck the global trend, posting a net profit of Dh752 million ($205 million) during the first six months of its current fiscal year. This is 165 percent higher than the Dh284 million, ($77 million) net profit it made during the same period last fiscal year, and comes at a time when the global aviation industry is set to lose Dh41 billion this year. The increased profits came mainly from an 18 percent capacity growth with the addition of eight new aircraft, bringing its total fleet to 130, and two new destinations. Emirates Airlines entered its 25th year of operations last month.
Emirates Airline revenues fell 13.5 percent to Dh19.0 billion ($5.2 billion), down from Dh22.9 billion ($6.1 billion) last year due to fewer passenger and lower cargo yields. Profitability was not effected because the airline also reduced costs by 15.8 percent to Dh19.0 billion ($5.2 billion), down from Dh22.6 billion ($6.1 billion) last year.
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