Emirates announces half-yearly profits
Tuesday, 18 November 2008
Emirates Airline produced a net profit of Dhs 284 million (US $77 million), for the first six months of its current financial year ending September 30, 2008. This is down 88 per cent compared to Dhs 2.36 billion ($643 million) net profits for the same period in 2007, showing the impact of the record high fuel prices earlier this year, says a press release.
HH Sheikh Ahmed bin Saeed AI-Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: "The first half of the year has been very tough for the airline industry, with record fuel prices forcing many carriers to shut shop or consolidate. Emirates has worked hard to manage the impact of high fuel prices on our unit costs, while continuing to grow our business and provide our customers with a quality product and service.
"We've made massive investments in our eco-efficient aircraft fleet; in our newly-opened world class airport terminal dedicated to Emirates operations; in strengthening our global route network; and also in the supporting infrastructure for our growing business."
Sheikh Ahmed added: "Our business fundamentals are solid, and providing there is no further fall-out from the current global financial situation, we anticipate a robust second half of the financial year."
HH Sheikh Ahmed bin Saeed AI-Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: "The first half of the year has been very tough for the airline industry, with record fuel prices forcing many carriers to shut shop or consolidate. Emirates has worked hard to manage the impact of high fuel prices on our unit costs, while continuing to grow our business and provide our customers with a quality product and service.
"We've made massive investments in our eco-efficient aircraft fleet; in our newly-opened world class airport terminal dedicated to Emirates operations; in strengthening our global route network; and also in the supporting infrastructure for our growing business."
Sheikh Ahmed added: "Our business fundamentals are solid, and providing there is no further fall-out from the current global financial situation, we anticipate a robust second half of the financial year."