Despite the challenges the airline industry has faced this period, Emirates Group has announced positive results and steady growth.
The Emirates Group has announced its half-yearly results which show steady performance and growth, despite a challenging business environment marked by ongoing health pandemic concerns, regional conflicts, and weakening global markets.
The Emirates Group revenues reached US $ 12.9 billion for the first six months of its 2014-15 fiscal year, up 12 per cent from US $ 11.5 billion from the same period last year.
Net profit for the Group rose to US$ 607 million, an increase of 1 per cent over the last year’s results.
The Group’s cash position on 30th September 2014 was at US $ 4.4 billion, compared to US$ 5.2 billion as at 31 March 2014. This is due to ongoing investments mainly into new aircraft and other airline related infrastructure projects.
Pictured: HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai visits Emirates’ stand at GITEX Technology Week 2014.
“As the biggest operator at Dubai International, we also took the biggest hit to our bottom line from the 80-day runway upgrading works,” said His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group.
“However, we had anticipated it and made meticulous plans to minimise impact operationally and commercially for both Emirates and dnata. The success of these plans can be seen in our overall growth during this six-month period in spite of the challenge.”
Amid external threats – global economic malaise, the Ebola outbreak, currency fluctuations, and regional conflicts – that have impacted severely on the airline industry, His Highness remains adamant that it is crucial Emirates remains flexible in its ongoing business strategy to maintain positive results.
“The ability to adapt and act quickly will determine our continued success,” he said.
“Moving forward, we will keep a watchful eye on these challenges, but continue to focus on our long-term goals and invest in the infrastructure of both Emirates and dnata.”
