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
 Jul 30 2015 - Egypt- Trial of businessman Ehab Talaat postponedqDaily News Egypt
(MENAFN - Daily News Egypt) The trial of prominent businessman Ehab Talaat was postponed to 26 December on Tuesday for an expert report on the matter.Talaat is being sued by the Al-Ahram Foundation ...

 Jul 30 2015 - Egypt participates in UN counter-terrorism meetingDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian delegation participated Tuesday in the UN counter-terrorism meeting in the Spanish capital, Madrid, and discussed efforts to tackle militancy.Egypt also ...

 Jul 30 2015 - Egyptian court postpones verdict in Al Jazeera journalists' retrialDaily News Egypt
(MENAFN - Daily News Egypt) A court in the Egyptian capital, Cairo, has postponed the verdict in the retrial of three Al Jazeera journalists, jailed for aiding a terrorist organization with false ...

 Jul 30 2015 - Egypt- 'Will justice be served this Thursday?' (1):JournalistsDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian court will conclude one of Egypt's most hotly debated cases since the ouster of the Muslim Brotherhood regime in 2013, and one of the longest trials the ...

 Jul 30 2015 - Al-Jazeera re-trial case adjourned to 2 AugustDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian court was to conclude Thursday one of Egypt's most debated cases since the toppling of the Muslim Brotherhood's regime, also among the longest trial the ...

 Jul 30 2015 - Egypt- Trial against Fatima Naoot continuesDaily News Egypt
(MENAFN - Daily News Egypt) The prosecution at the Sayeda Zeinab Misdemeanour Court decided on Wednesday to postpone the case against Fatima Naoot, who is charged with contempt of religion.In turn, ...

 Jul 30 2015 - Ooredoo Oman profit up 18.7 percent in H1MENAFN
(MENAFN) Omani Qatari Telecommuni-cations Company (Ooredoo), has reported an 18.7 percent increase in its net profit for the first half of this year.The company's revenues for the first half of 2015 ...

 Jul 30 2015 - Dubai real estate down, under pressureThe Arabian Post
(MENAFN - The Arabian Post) The Dubai residential market continues to face downward pressure as rents and sale prices decline. It's perhaps indicative of a systemic shift that the current phase's ...

 Jul 30 2015 - Consumer choice, innovation 'key drivers of aviation sector'The Arabian Post
(MENAFN - The Arabian Post) Consumer choice and innovation are the fundamental drivers of competition in the international airline industry, said Etihad Airways president and CEO James Hogan at the ...

 Jul 30 2015 - Qatar's transport sector posts double-digit growth in H1MENAFN
(MENAFN) Qatar's transport sector witnessed a healthy double-digit expansion in profitability in the first half of this year, mainly on the back of earnings in logistics segment.The cumulative net ...

more...


 






Google

 
 

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