Emirates airline produced a net profit of e140 million (US$205 million), for the first six months of its current financial year ending 30 September 2009. This represents a 165% improvement compared to e53 million (US$77 million) net profits for the same period in 2008.
During this period the airline carried over 13 million passengers and over 700,000 tonnes of cargo.
Emirates supported and stimulated growth in the aviation and tourism industry by continuing fleet and network expansion with eight new aircraft added, two new destinations launched and additional frequencies introduced; progressing its ongoing programme to install the latest inflight entertainment systems and mobile connectivity across its fleet; and investing in the training and retention of its 29,000-strong staff.
HH Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive, Emirates airline and Group said: “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.”
In the first-half of its financial year 2009-10, Emirates posted strong business growth, both in terms of capacity on offer and traffic carried compared to the corresponding period in 2008. Capacity measured in Available Seat Kilometers (ASKM), grew by 22%, whilst passenger traffic carried measured in Revenue Passenger Kilometres (RPKM) was up 21% with Passenger Seat Factor sustained at a high level, averaging 77.5%, slightly down compared to 78.3% for last year. The volume of cargo uplifted was in line with last year.
Total revenue at e3.6 billion (US$5.4 billion) was lower by 13.5% compared with e4.3 billion (US$6.2 billion) recorded last year, largely reflecting lower passenger and cargo yields. However, total expenditure at e3.5 billion (US$5.2 billion) was 15.8% lower than e4.2 billion (US$6.1 billion) last year, helped by cost containment measures and lower jet fuel prices.
Since April 2009, Emirates has launched passenger services to two new destinations, Durban and Luanda, expanding its global network which now spans 101 cities on six continents.
Emirates’ current fleet size is 139 aircraft. Since the beginning of its current financial year, the airline has received delivery of eight new wide body aircraft, with another 10 new jets scheduled to be delivered before the end of the financial year in March 2010.
Emirates flies on a daily schedule to Malta from its base in Dubai, via Larnaca, Cyprus.