Despite 2014 being described as a turbulent year, Emirates has posted a stunning profit of AED4.56 billion, US$1.24bn for the 2014-15 financial year.
With a fleet of 231 aircraft carrying 49.29 million passengers and an increase of 10.7 per cent year on year, Emirates also increased its seat capacity by 9.1 per cent, mainly due to the delivery of twelve new Airbus A380s and ten Boeing 777s, while ten aircraft were phased out, resulting in a fleet of 231 aircraft.
With the Dubai based carrier’s profit being 40 percent higher than the previous year, despite an 80 day closure of one of the runways at Dubai International Airport, revenues also increased by 7.5 per cent to AED88.82bn, while the airline’s operating profit increased by a stellar 38.3 percent to AED5.89bn.
Emirates Chairman and CEO His Highness Sheikh Ahmed bin Saeed Al Maktoum said, “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.”
He added, “Achieving our 27th consecutive year of group profit and one of our best performances to date, is testimony to the strength of our brands and business fundamentals, as well as the dedication and talent of our workforce.
Written by : John Alwyn-Jones