United Kingdom
United States
Asia Pacific
Record profits for Emirates Group
Emirates Group has announced record net profits of $762 million for the year to March 31, up 5% from the year before.
The group, which comprises Emirates Airline, Dnata and subsidiary companies, said group revenue jumped 27% to $6.6 billion, despite soaring fuel costs. Profit for the airline division reached a record $674 million, up from $656 million the previous year.
Announcing the results, chairman and chief executive Sheikh Ahmed bin Saeed Al-Maktoum, said: “It has been another tough year with pressure from fuel costs continuously dampening our robust net income production. Emirates has returned its 18th consecutive annual profit, and we are pleased to have achieved this solid performance while expanding our operations in an increasingly competitive environment.”
He denied accusations that Emirates receives hidden government support and subsidies, claiming the company’s success was based on “a sound and simple business model”.
The airline forecasts that its fleet will comprise 156 aircraft by 2010, serving 101 destinations and carrying some 26 million passengers.
Destination and Leisure Management, a division of Emirates Airline, announced new projects, including Emirates Wolgan Valley Resort and Spa, a conservation-based luxury development in Australia‘s Blue Mountains, a 70-storey deluxe city hotel in Dubai, and Emirates Marina Serviced Apartments and Spa in Dubai. All will be managed under the division’s new hospitality brand, Emirates Hotels and Resorts.
Report by Bev Fearis
Related News Stories:
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled