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Emirates Group Records 21st Year Of Consecutive Profit

ImageDespite the unprecedented challenges for the airline and travel industry, Emirates Group recorded its 21st year of consecutive profit for the 2008/2009 financial year.  For the financial year ending 31 March 2009, the group’s net profit was Dh 1.49 billion ($406 million).   This is a 72% drop from the prior year’s record profits of Dh 5.3 billion ($1.45 million).    The large fall in profit is due to the record high fuel prices in the first half of the year, and the impact of the global economic recession. 

Revenues for the financial year increased 10.4% to Dh 46.3 billion ($12.6 billion) from the prior years Dh41.9 billion ($11.4 billion).   Chief Executive for Emirates Airline and Group said “We have returned our 21st consecutive year of net profit, and although it is a 72 per cent decrease on the previous years all-time record profit, under the circumstances this is still a satisfactory result.”

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