Business Desk :
Emirates Airline, the main concern of based Emirates Group records a profit of US$ 762 billion for the year 2017-18. The profit shows staggering 124 percent growth over the previous year, says a media release.
The Emirates Group comprising Emirates Airline and dnata today, May 9 announced its 30th consecutive year of profit. In 2017-18 Annual Report, the Emirates Group posted a profit of US$ 1.1 billion for the financial year ended 31 March 2018, up 67 percent from last year.
The Group’s revenue reached US$ 27.9.billion, an increase of 8 percent over last year’s results, and the Group’s cash balance increased by 33 percent US$ 6.9 billion.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “Business conditions in 2017-18, while improved, remained tough. We saw ongoing political instability, currency volatility and devaluations in Africa, rising oil prices which drove our costs up, and downward pressure on margins from relentless competition. On the positive side, we benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar.”
Emirates Airline earned revenue of US$ 25.2 billion during 2017-18. The Airline carried a record 58.5 million passengers (up 4%), and achieved a Passenger Seat Factor of 77.5% during 2017-18.
Emirates’ cargo division- Emirates SkyCargo reported revenue US$ 3.4 billion, an impressive increase of 17% over last year, while tonnage carried slightly increased by 2% to reach 2.6 million tonnes.
Emirates Airline, the main concern of based Emirates Group records a profit of US$ 762 billion for the year 2017-18. The profit shows staggering 124 percent growth over the previous year, says a media release.
The Emirates Group comprising Emirates Airline and dnata today, May 9 announced its 30th consecutive year of profit. In 2017-18 Annual Report, the Emirates Group posted a profit of US$ 1.1 billion for the financial year ended 31 March 2018, up 67 percent from last year.
The Group’s revenue reached US$ 27.9.billion, an increase of 8 percent over last year’s results, and the Group’s cash balance increased by 33 percent US$ 6.9 billion.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “Business conditions in 2017-18, while improved, remained tough. We saw ongoing political instability, currency volatility and devaluations in Africa, rising oil prices which drove our costs up, and downward pressure on margins from relentless competition. On the positive side, we benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar.”
Emirates Airline earned revenue of US$ 25.2 billion during 2017-18. The Airline carried a record 58.5 million passengers (up 4%), and achieved a Passenger Seat Factor of 77.5% during 2017-18.
Emirates’ cargo division- Emirates SkyCargo reported revenue US$ 3.4 billion, an impressive increase of 17% over last year, while tonnage carried slightly increased by 2% to reach 2.6 million tonnes.
