Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Emirates airlines profit up 43 in 2013 to $887 mn  Join our daily free Newsletter

MENAFN - AFP - 08/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Emirates airlines, the largest Middle East carrier, said Thursday it posted a 43 percent surge in profit to 887 million last year as fuel costs dropped and passenger numbers rose.

Net profit in 2013 hit 3.3 billion dirhams (887 million) compared to 2.3 billion dirhams (622 million) the previous year, the company announced.

Fuel costs dropped by around four percent, Emirates chief Sheikh Ahmed bin Saeed al-Maktoum told reporters, while passenger numbers increased 13 percent.

The carrier's revenues increased 13 percent to 82.6 billion dirhams (22.5 billion).

"It has been a good year," sheikh Ahmed said.

The government-owned carrier transported a record 44.5 million passengers last year, compared to 39.4 million the previous year.

Emirates Group as a whole, which includes Dnata travel services, saw revenues rise 13.2 percent to 87.8 billion dirhams (23.9 billion), with profit surging 31.6 percent to 4.1 billion dirhams (1.1 billion).

The group will give a dividend of one billion dirhams (280 million) to its indebted government "similar to the last financial year," it said.

"We are moving into the new financial year with confidence and a strong foundation for continued profitability with our strong balance sheet, solid global portfolio and international talent pool," sheikh Ahmed said in a company's statement.

He said the carrier employed 52,512 people, 10 percent up from the previous year.

He also said the group as a whole invested the equivalent of 6 billion last year to upgrade services, including new aircraft and facilities.

"Every dirham invested has been carefully considered against short and long-term goals, be it enhancing our capabilities, improving our product, or expanding our business footprint," he said.

Emirates market in East Asia and Australasia remained its highest revenue contributor, with 6.5 billion, 14 percent up from last year.

The Dubai-based airline leads Gulf major carriers in expanding their share on the route between the West and Asia and Australasia, triggering repeated complaints from legacy carriers which complain over a tough competition with the state-owned airlines.

Emirates, Qatar Airways and Abu Dhabi's Etihad have become popular carriers among travellers along these routes, turning their cities into major travel hubs.

The carrier operates from Dubai International Airport, the Middle East's busiest airport which has shot up to rank as the world's second largest airport for international travel after handling 66.4 million passengers in 2013.

But Emirates has said it forecast a revenue drop of around one billion dirhams this year due to a three-month closure of one of the airport's two runways until the end of July for upgrade.

Emirates fleet also increased to 217 planes from 197 in 2012-2013.


 


AFP




  MENA News Headlines
 May 29 2016 - Turkey- Erdogan slams US 'support' for Syrian Kurdish groupsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) President Recep Tayyip Erdogan condemned on Saturday what he called the United States’ “support” for Syrian Kurdish groups the PYD and YPG. ...

 May 29 2016 - Iraq anti-Daesh operation leaves civilians trappedThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Civilians who have fled Fallujah in recent days said they were exposed to random shelling by the Iraqi air forces as they left the city. Following a harsh ...

 May 29 2016 - 40,000 Syrian families flee Daesh attacks on AleppoThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Daesh terrorist group’s attacks on Aleppo’s Azaz district have forced 40,000 families to flee their homes, a humanitarian relief official ...

 May 29 2016 - Turkey- UNHCR worried about 165,000 displaced near Syrian townThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The UNHCR on Saturday expressed acute concern about nearly 165,000 displaced persons massing near a town in northern Syria. In a written statement, the UN's ...

 May 29 2016 - Mavi Marmara victims commemorated in TurkeyThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) About 200 people gathered Sunday outside Israel’s embassy in Turkey's capital to mark the sixth anniversary of the deadly attack on the Gaza-bound Mavi ...

 May 29 2016 - Artillery, air operations 'kill 40 Daesh' in SyriaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Turkish military sources on Sunday said a total of 40 Daesh terrorists were killed in northern Syria during an operation by the Turkish Armed Forces and the ...

 May 29 2016 - Hundreds attend funeral of Palestinian killed by IsraelThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Hundreds of Palestinians on Saturday attended the funeral of a youth who was controversially killed by an Israeli soldier two months ago. Large crowds ...

 May 29 2016 - UN: Syrian regime blocked 60 pct of aid convoys in MayThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Syrian regime has allowed only 14 out of 35 UN aid convoys in May, a senior UN official said. “Deliberate interference and restrictions by the ...

 May 29 2016 - UN: 700 migrants feared dead in Mediterranean shipwrecksSaudi Press Agency
(MENAFN - Saudi Press Agency) POZZALLO, Italy, Sha'ban 22, 1437, May 29, 2016, SPA -- The UN refugee agency said over 700 migrants are feared dead in three Mediterranean Sea shipwrecks south of ...

 May 29 2016 - Saudi- Jordanian monarch dissolves parliament, names new premierSaudi Press Agency
(MENAFN - Saudi Press Agency) Amman, Sha'ban 22, 1437, May 29, 2016, SPA -- Jordanian King Abdullah II dissolved parliament on Sunday, dpa reported. A royal decree, carried by state television, ...

more...


 





Google

Join Our Newsletter

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help