Profits soar at Emirates Airline

Profits soar at Emirates Airline

An increase of four million passengers in a single year saw profits at Emirates Airline increase by $1.5 billion, the latest figures from the carrier reveal.

Revenues at the airline grew 25 per cent when compared to the previous year, reaching $14.8 billion, the company said today.

Emirates – which was recently nominated as the Middle East’s Leading Airline at the World Travel Awards - said some 31.4 million passengers flew over the 12 months to March 31st, an increase of 14.5 per cent on the previous year.

The figures come despite a number of challenges faced by the largest carrier in the Middle East, including disruption caused by the Icelandic volcanic eruption and earthquakes in New Zealand and Japan, as well as rising fuel prices.

Total profits for Emirates Group – which includes a number of other subsidiaries - stood at $1.6 billion, with revenue at $15.6 billion for the financial year.

Revenue from cargo was also up by 27.6 per cent to $2.4 billion.

“Despite unforeseen challenges in the form of political instability and shocking natural disasters we have managed, through sheer determination, nimbleness and quick thinking, to produce our best ever result,” said Sheikh Ahmed bin Saeed al-Maktoum.

Emirates spent a total of $4.6 billion on fuel over the period, some 34.4 per cent of total operating cost.

Last year, the Dubai-based carrier saw net profits jump 416 per cent from $187 million to $964 million.