Sunday, 20 May, 2018

Emirates Airline's profit up 124% in 6 months

09 May 2018, 12:03 ( 11 days ago)

DF-Xinhua Report
Photo provided by Emirates Airline, the international carrier of the United Arab Emirates (UAE), shows Sheikh Ahmed bin Saeed al-Maktoum (L), chairman and chief executive of the Emirates Airline, signs a memorandum of understanding (MoU) with John Leahy (R), chief operating officer-customers of Airbus Commercial Aircraft, at the airlines' headquarters in Dubai, the United Arab Emirates in January. File Photo Xinhua.

Emirates Airline, the national carrier of the United Arab Emirates (UAE), said Wednesday it has generated from Oct. 1, 2017 to March 31, 2018 a net profit of 2.8 billion dirham (762 million U.S. dollars), representing an year-on-year increase of 124 percent.

   Emirates has transported from April 1, 2017 to March 31, 2018 a total of 58.5 million passengers, up 4 percent year on year, said the company's Chairman Ahmed Bin Saeed Al-Maktoum.

   However, business environment remains tough because of the ongoing political instability, currency volatility and devaluation in the region, rising oil prices, and downward pressure on margins from relentless competition, said the leader of the airline giant.

   Emirates remains the world's largest operator of the Boeing 777 and A380, both aircraft the most modern and efficient wide-bodied jets in the sky so far.

   During the year, Emirates launched two new passenger destinations -- Phnom Penh in Cambodia and Zagreb in Croatia. It also expanded its flight capacity to 15 existing destinations, offering customers more choices of flight timings and onward connections.

   Since 2017, the Emirates Group has invested 9 billion dirham in new aircraft purchase, the acquisition of companies, modern facilities, the latest technologies, and staff initiative.

Contact Us