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.
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.