Emirates bucks trend with half-year results

Print Article E-Mail Article

The Emirates Group has proved it is possible to buck the current trend affecting the airline industry, by posting half-yearly profits up 2.4% to Dhs168.2m ($46m). Operating revenue also increased 14% to Dhs3.36bn ($920m).  Even though overall seat capacity increased by over 23.3 %, the seat factor was maintained at 74%, compared to 74.7 % last year.

The news comes close on the heels of Emirates' largest-ever aircraft order at the recent Dubai Air Show, valued at $15bn, boosting the Emirates' fleet to 100 aircraft by the year 2010.

Emirates' Chairman, HH Sheikh Ahmed bin Saeed Al-Maktoum, commented: "We are very pleased to announce half-yearly profits at a time when confidence in the airline industry has been shaken by the recent tragic events in the US, and by the earlier global air traffic shortfall.

"Our focus now is to maintain a strict regime of cost management across the company to ensure that our results at the end of this financial year will continue to return a profit."

Emirates said for the next six months it is employing various cost control measures, including a moratorium on staff recruitment. The airline continues to operate to all its destinations. Recent trimming of frequencies on some routes is currently being phased out in a return to normal scheduled services.