Emirates Airline has turned in spectacular results, recording significant net growth for the 20th consecutive year.
Announcing the results to 31 March this year in Dubai this morning (30 April), Emirates has once again revealed huge profit growth, despite the maelstrom of global economic challenges, with a sparkling set of numbers.
The airline posted profit up a staggering 62.1% to $1.37bn on revenue of $10.8bn ” itself increasing by 32.3% - while air travel services supplier Dnata recorded net profit of $83m against an Emirates Group positive figure of $1.45bn.
”It was another record year for the Group in spite of a challenging business climate, particularly in the second six months where the soaring cost of jet fuel made a big dent,” said Emirates chairman and chief executive His Highness Sheikh Ahmed bin Saeed Al-Maktoum.
”Despite the long-term forecast of a decrease in the number of passengers travelling in first and business class, I am happy to report that Emirates once again bucked the trend and boosted our seat factor in the forward cabins.”
Although the global challenge of sky-high fuel prices remains ” kerosene costs accounted for 30.6% of Emirates” total operating outgoings ” the Dubai carrier believes its position at the ”centre of the new Silk Road between east and west” ” will largely offset any downturn.
Emirates extraordinary expansion ” as anyone who has passed through Dubai airport will testify ” is also presenting something of a challenge in itself however. The airline now has a fleet of some 115 aircraft and recently inked a colossal order at the Dubai Air Show for $34.9bn of new machines, leading to a real need for new personnel.
”Our biggest challenges will be to find more pilots, engineers, cabin crew and skilled staff across our various business units,” said Sheikh Ahmed. ”Being based in Dubai has its advantages as the city itself is already preparing to welcome 15m visitors by 2010 and there is massive investment in infrastructure to serve and attract the increasing number of expatriates.”
Emirates is due to launch Airbus A380 services from Dubai to New York on 1 October this year and to London on 1 December.