Despite an ever-challenging business environment marked by ongoing health pandemic concerns, regional conflicts and weakening global markets, Emirates has announced healthy growth figures for its 2014 half year performance review.
The Gulf carrier saw a 12 per cent increase in revenues to AED 47.5 billion (US$ 12.9 billion), while also recording a one per cent increase in net profits over last year’s results.
Emirates’ cash position did dip significantly from AED19 billion (US$5.2 billion) recorded in the first three months of the year, to AED 16.1 billion (US$ 4.4 billion) in September 2014. However, the carrier attributed this to ongoing investments in new aircraft, as well as the runway upgrades at Dubai International Airport between May and July.
As previously reported by Business Traveller Asia-Pacific (see here), the upgrade works meant less flights to more than 40 destinations in order to accommodate the necessary traffic reduction at the airport.
“As the biggest operator at Dubai International, we also took the biggest hit to our bottom line from the 80-day runway upgrading works,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group.
“However, we had anticipated it and made meticulous plans to minimise impact operationally and commercially for both Emirates and dnata”.
For more information, visit emirates.com
Clement Huang
