Emirates’ business keeps reaching record heights, with the Group announcing record-breaking profits for the 30th consecutive year.

THIRTY YEARS of breaking record? How Emirates?

Great question and according to the group’s Chairman and Chief Executive, it wasn’t easy.

Despite ongoing political instability, rising fuel prices, relentless competition and  devaluations in Africa, the Emirates Group managed to achieve a 67 percent increase in profits for the financial year ending 31 March 2018 compared to the prior year. This came to a total of AE$4.1 billion (US$1.1 billion).

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The group’s revenue jumped by eight percent on the prior year, while cash balance rose 33 percent.

Emirates – the airline – saw profits increase an incredible 124 percent over last year’s to AE$2.8 billion (US$762 million) and achieved a profit margin of three percent.

His Highness (H.H.) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said the secret to the group’s success was responding to challenges with “agility” and “never losing sight of the future”.

Emirates

“We benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar.”

Sheikh Ahmed bin Saeed Al Maktoum, Emirates Group Chairman & CEO 

Throughout the year, the group signed on for a US$15.1 billion agreement for 40 Boeing 787-10 aircraft and US$16 billion for 36 extra A380s, while the group workforce dropped two percent to 103,363.

The airline Emirates crossed the 61 billion mark for total passenger and cargo capacity during the financial year and is now sitting at 61.4 billion.

 

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What are your thoughts on the profits?