Emirates Group has announced its second highest ever profit despite the Ebola outbreak, armed conflicts in several regions and runway upgrades at Dubai International airport.
The Dubai-based group posted annual profits of $1.5 billion with revenues reaching $26.3 billion, an increase of 34 per cent on last year’s results.
Emirates airline had a successful year as it carried a record 49.3 million passengers, up 11 per cent from last year.
“2014-15 was a turbulent year for aviation,” said Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum. “The fall in oil prices provided cost relief in the second half of our financial year, however it did not offset the hit to our profitability caused by significant currency fluctuations, nor the hit to our revenue from operational adjustments in addressing the Ebola outbreak, armed conflicts in several regions, and the 80-day runway upgrading works at Dubai International airport (DXB).”
“Every year brings a new set of challenges. In addressing these, we are always guided by the best interest of our people, our customers, and our long-term goals. As a Group, we keep a close eye on our top and bottom lines, but we never take our foot off the gas pedal when it comes to investing to enhance our business performance, and looking after our people,” he added.
The Group, which includes ground handling firm Dnata, also announced that around 400 Emirates employees in the UK are celebrating the company’s results after collecting a staff bonus equivalent to nine weeks pay. The Emirates Group operates a profit share scheme based upon the profit results of the company for the financial year.