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Emirates’ half year profit hits $205 million

Emirates airline has produced a net profit of $205 million for the first six months of its current financial year ending September 30, 2009.

This represents a 165 percent improvement compared to $77 million net profits for the same period in 2008.
During this period, the airline made an estimated direct contribution of Dhs 10 billion, and an estimated indirect contribution of Dhs 14 billion to the U.A.E economy, carrying over 13 million passengers and over 700,000 tonnes of cargo.

The airline management said it also in the process helped other businesses operating at Dubai International Airport achieve growth in revenue and traffic.

According to the management, Emirates supported and stimulated growth in the aviation and tourism industry by continuing fleet and network expansion with eight new aircraft, two new destinations launched and additional frequencies introduced.

Chairman and Chief Executive Officer of the airline, HH Sheikh Ahmed bin Saeed Al-Maktoum, said: ““Emirates remained focused on its long-term strategy despite the global economic slowdown.

“We have continued to invest in our eco-efficient aircraft fleet; in strengthening our global route network; and also in supporting the infrastructure for our growing business.

“The months, since the global meltdown have really tested our mettle. Unlike others in the industry, Emirates did not cut back on its product, service or people. “Instead, we invested in these areas and looked to our people to develop ever more innovative ways to manage costs, improve efficiencies, reallocate resources, and drive alternative strategies for the business.

“Emirates’ latest half-year performance testifies to the airline’s strong business foundations and agility in adapting to the challenging global economic environment.”


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