Emirates Group achieves 26th consecutive year of profit

Emirates Group achieves 26th consecutive year of profit

Revenue from the travel services division Emirates-owned dnata saw strong growth of 22% to reach $180 million in the year to March.

This was mainly attributed to business growth in the UK through Travel Republic and the newly-integrated business of the Gold Medal Travel Group as of March.

Underlying travel services-related turnover, measured by net sales value, increased 10% to $1.6 billion.

The figures emerged as the Dubai-based Emirates Group announced its 26th consecutive year of profit which came in at $1.1 billion, a rise of 32% year on year. Group revenue was up by 13% to $23.9 billion.

Dnata grew its overall revenue by 14% to $2.1 billion through organic growth as well as strategic international acquisitions. Its international business accounted for 50% of its revenue for the first time in the company’s history, while profit of $226 million surpassed last year’s record level.

Emirates airline “successfully managed increased competitive pressure across all markets” to record a profit increase of 43% to $887 million.

Passenger numbers were up by 13% to a record 44.5 million.

The carrier received 24 new aircraft during the year, including 16 Airbus A380s, six Boeing 777-300ERs and two Boeing 777Fs, bringing its total fleet count to 217. It remains the world’s largest operator of the 777 and A380.

Group chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said: “Achieving our 26th consecutive year of profit in a financial year marked by record increases in capacity and significant business investments across the group, is testimony to the strength of our brands and our business fundamentals.

“We are moving into the new financial year with confidence, and a strong foundation for continued profitability with our strong balance sheet, solid track record, diverse global portfolio and international talent pool.

“Operating in a dynamic and highly-competitive environment means we have to stay agile, and work even harder to meet and exceed our customers’ expectations.

“With the help of our 75,000 strong multicultural workforce, we have no doubt that we will be able to capitalise on the opportunities in the year ahead.”

Sourced from Travel Weekly

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