Financial Round Up
Emirates profit up 40%
May 11th 2015
Emirates Airline has reported a 40% full-year profit increase, rising to 4.6 billion dirham ($1.3 billion). The Dubai-based carrier, run by chief Sir Tim Clark, said revenue for the financial year ended March 30 grew 7% to reach a record 88.8 billion dirham, while operating costs increased 6%. Read More » Fuel costs dropped 7% to 28.7 billion dirham, representing 35% of the carrier’s expenses. Emirates said its average load factor was up 0.2% to 79.6%, however, its yield dropped to $0.81 due to the stronger U.S. dollar.
Emirates Group chairman and CEO, Ahmed bin Saeed Al Maktoum, said the airline would “move into the new financial year with confidence, and a strong foundation for continued profitability”. Emirates last month announced the addition of Denpasar (from June) and Orlando (from September) to its network.
