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 27 2015 - European shares gain, Generali up on dividend commitmentSaudi Press Agency
(MENAFN - Saudi Press Agency) European shares rose on Wednesday after sharp declines in the previous session, with Italy's biggest insurer Generali gaining after committing to boost dividends and ...

 May 27 2015 - Crown Prince Congratulates Ethiopia's President on National DaySaudi Press Agency
(MENAFN - Saudi Press Agency) Crown Prince Mohammed bin Naif bin Abdulaziz, Deputy Premier and Minister of Interior, has sent a cable of congratulations to President Mulatu Teshome of the Federal ...

 May 27 2015 - Custodian of the Two Holy Mosques receives a message from Russian PresidentSaudi Press Agency
(MENAFN - Saudi Press Agency) The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received a message from President Vladimir Putin of the Russian Federation.The message was ...

 May 27 2015 - IIRO Distributes SR 22 Millions Aid to Affected YemenisSaudi Press Agency
(MENAFN - Saudi Press Agency) The International Islamic Relief Organization (IIRO) of the Muslim World League (MWL) has recently distributed a variety of assistance amounting to SR 21,998,000 to ...

 May 27 2015 - Crown Prince Congratulates Nepal's President on National DaySaudi Press Agency
(MENAFN - Saudi Press Agency) Crown Prince Mohammed bin Naif bin Abdulaziz, Deputy Premier and Minister of Interior, has sent a cable of congratulations to President Dr. Ram Baran Yadav of the ...

 May 27 2015 - General Supervisor of King Salman Center for Relief and Humanitarian Works Signs Agreement with World Food ProgramSaudi Press Agency
(MENAFN - Saudi Press Agency) The Advisor at the Royal Court and General Supervisor of King Salman Center for Relief and Humanitarian Works Dr. Abdullah bin Abdulaziz Al-Rabiah signed today a ...

 May 27 2015 - Dubai announces crude oil price for AugustEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Department of Oil Affairs of the Government of Dubai has announced that it has notified customers that the official price of Dubai crude oil to be delivered ...

 May 27 2015 - Khalifa Fund promotes Zaarie programme's productsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Senior delegates, including chefs and heads of procurements in Abu Dhabi hotels, have visited a number of farms under the Zaarie programme, which was recently ...

 May 27 2015 - Oman Crude Oil Financial Contract closes at US$62.19 at DMEEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The price of Oman Crude Oil Financial Contract, DME Oman, closed at US$62.19 a barrel for July delivery, at Dubai Mercantile Exchange at 12:30 p.m., Dubai ...

 May 27 2015 - UAE ranks first in Quality of Air Transport InfrastructureEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The United Arab Emirates has ranked first globally in Quality of Air Transport Infrastructure, according to a major annual report by the Swiss-based ...

more...


 






Google

Internatinal Property Show

 
 

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