Emirates, the largest long-haul airline in the world, has a “strong position” for future growth as it has posted a record annual profit by expanding its route network and increasing the capacity in order to meet the strong global travel demand.
The Emirates airline is hopeful that the demand will stay strong in the coming months, but at the same time it will be looking into the factors such as costs, fuel prices and the consequences of sociopolitical changes,
Emirates reported a profit of Dh17.2 billion ($4.7 billion) in its financial year that ended on March 31, up 63 percent from Dh10.6 billion in the previous year, and thus, the “voracious appetite” for travel across customer segments was the main reason for this.
Revenue increased by 13 percent year-on-year to Dh121.2 billion, though the currency fluctuations had an impact, as the airline carried more passengers during the year.
The Emirates Group has also given its workers a bonus worth 20 weeks of their salary as the group announced the record-breaking profits. The ones who are part of the group will be paid in May with their salary.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, thanked the Emirates Group employees for their ‘heroic efforts.’ He praised their dedication “for helping us to power our collective ambitions and for achieving them, you deserve every dirham of the 20-week profit share,” he wrote.
The total number of people in the group increased by 10% to 112,406 which is the largest employee workforce in its history as the Emirate and the Dnata saw significant profit and revenue increases in the last year. The employees are located in over 84 countries and are of more than 170 nationalities.
All through the year, we experienced a great demand for air transport and services related to travel around the world, and since we were able to move fast to deliver what customers want, we achieved great results, so said Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates airline and Group.
