Emirates H1 profit more than quadruples
By Adam Schreck |
November 2, 2010, Tuesday
|
Print Edition
Print Edition
EMIRATES, the Mideast's biggest airline, more than quadrupled its fiscal first-half profit to US$925 million as it packed more passengers and cargo into planes.
The Dubai state-run carrier, an increasingly potent player in long-haul international travel, said yesterday the gains reflect a "positive shift" in an airline industry that has struggled with weak demand amid the economic downturn.
Emirates said it carried 15.5 million passengers in the six months through September. While some of the growth came as the fast-growing airline added planes and routes, Emirates also filled more seats, averaging occupancy of 81.2 percent - a first-half record.
Its chairman and CEO, Sheik Ahmed bin Saeed Al Maktoum, called the results "incredibly robust." He said Emirates has the resources to keep expanding.
"Our healthy financial position enables us to successfully meet all of our financial commitments and raise financing for future aircraft deliveries," Sheik Ahmed said in a statement. "Our strong position today is reflective of our ability to adapt."
Emirates posted a 19.4 percent jump in passenger traffic during the first half, based on the standard industry metric of revenue passenger kilometers flown.
The carrier ranks as the world's busiest hauler of international passengers according to that measure, just ahead of German carrier Lufthansa.
Emirates accepted delivery of five double-decker Airbus A380s and one Boeing 777 during the half.
The Dubai state-run carrier, an increasingly potent player in long-haul international travel, said yesterday the gains reflect a "positive shift" in an airline industry that has struggled with weak demand amid the economic downturn.
Emirates said it carried 15.5 million passengers in the six months through September. While some of the growth came as the fast-growing airline added planes and routes, Emirates also filled more seats, averaging occupancy of 81.2 percent - a first-half record.
Its chairman and CEO, Sheik Ahmed bin Saeed Al Maktoum, called the results "incredibly robust." He said Emirates has the resources to keep expanding.
"Our healthy financial position enables us to successfully meet all of our financial commitments and raise financing for future aircraft deliveries," Sheik Ahmed said in a statement. "Our strong position today is reflective of our ability to adapt."
Emirates posted a 19.4 percent jump in passenger traffic during the first half, based on the standard industry metric of revenue passenger kilometers flown.
The carrier ranks as the world's busiest hauler of international passengers according to that measure, just ahead of German carrier Lufthansa.
Emirates accepted delivery of five double-decker Airbus A380s and one Boeing 777 during the half.
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