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Emirates Announces 24th Consecutive Year of Profit

Emirates Announces 24th Consecutive Year of Profit

The Emirates Group today announced its 24th consecutive year of profit and company-wide growth, amid unprecedented economic pressure and record high fuel prices.

In its 2011-12 annual report the company posted a €486 million net profit, with dnata marking its highest ever profit in 52 years of operation. Despite fundamental challenges, the Group’s revenue reached a record high, climbing to €14.4 billion, an increase of 17.8% on last year’s results. The Group’s cash balance grew by 9.5% to €3.7 billion.

Boeing’s 1,000th B777

Emirates took delivery of Boeing’s 1,000th B777 during a special event at the manufacturer's plant in Everett, Washington State.

During the year Emirates received 22 new aircraft, its highest in any single year, funded by a wide variety of financing structures. With an increased fleet, Emirates further invested in its network by adding 11 new destinations and increasing capacity to 34 cities, a record for the airline.

Carrying a record 34 million passengers, an increase of 8%, Emirates logged a Passenger Seat Factor of 80.0%, remaining consistent with last year’s results. With an increase in seat capacity (Available Seat Kilometres) of 9.8%, the result highlights a strong consumer desire to fly on Emirates‘ state-of-the-art aircraft.

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NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

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