The largest of the middle east big 3 (MEB3) airlines, Dubai-based Emirates recorded a massive 43% increase in annual profits as it reaped the benefits of a significant expansion of its route network and induction of new aircraft.
The airline recorded an annual profit of 3.3 billion dirhams (US$ 887 million) at a margin of 3.9% on a record annual revenue of 82.6 billion dirhams (US$ 22.5 billion) an increase of 13% over last year, outpacing the 12% increase in operational costs. With a minor drop in prices, Emirates’ fuel bill of 30.7 dirhams (US$ 8.4 billion) saw a 10% increase over last year.
The airline carried 44.5 million passengers, an increase of 13% over last year, and received 24 new aircraft during the year, 16 Airbus A380s, six Boeing 777-300ERs and two Boeing 777F freighters giving Emirates a 14% capacity growth. The airline with a total 217 aircraft in its fleet, still remains the world’s largest operator of the Boeing 777 and A380. It operates 47 A380s which is more than double of the 19 of the next biggest and A380 launch operator, Singapore Airlines. The airline kept its passenger yield per revenue passenger kilometre steady at 30.4 fils (8.3 US cents).
Emirates added nine new destinations during the year: Boston, Clark, Conakry, Haneda, Kabul, Kiev, Sialkot, Stockholm and Taipei. For this year, till date the airline has announced five new destinations: Abuja, Brussels, Chicago, Kano and Oslo.
On the cargo front, the SkyCargo division which contributes about 15% of Eimrates’ total revenues, grew its revenues by 9% earning 11.3 billion dirhams (US$ 3.1 billion). Actual tonnage of freight carried increased 8% to 2.3 million tonnes and yield increase by 1% due to the relative flat market which is only now showing signs of minor revival. Emirates SkyCargo freighter fleet is at 12 aircraft – 10 on operating lease and two on wet lease.
The full annual report of the total Emirates Group which is made up of comprising Emirates, dnata and their subsidiaries is here.