Emirates 26 consecutive years of profit

first_imgDespite competitive challenges and a slow moving global financial climate, the Emirates Group has ended the financial year in a strong position, reporting its 26th consecutive year of profit and company-wide growth. “Achieving our 26th consecutive year of profit in a financial year marked by record increases in capacity and significant business investments across the Group, is testimony to the strength of our brands and our business fundamentals,” Emirates Airline and Group chairman and chief executive officer His Highness Sheikh Ahmed bin Saeed Al Maktoum said. Moreover, the Group has also announced that the financial year marked an unprecedented level of investment, continued expansion of its global presence, and the achievement of new capacity milestones. Furthermore, the Group also continued to invest in and expand on its employee base, increasing its overall staff count by 11 per cent to over 75,000, representing more than 160 nationalities. Emirates made a USD $887 billion, as revenue increased by 13 per cent to USD $22.5 billion, as well as increased capacity by 5.9 billion Available Tonne Kilometres (ATKMs). The airline received 24 new aircraft during the year, which has seen its fleet grow to a total of 217, with Emirates remaining the world’s largest operator of the Boeing 777 and A380, and along with it the launch of nine new destinations, including a new service between Milan and New York. “Throughout 2013-14, the Group has collectively invested over USD $6.0 billion, the highest amount ever in one financial year because we know that to be a sustainable and profitable business we have to keep adding value to our stakeholders, our customers, partners and employees. For the financial year ending 31 March 2014, the Emirates Group has reported a USD $4.1 billion profit, up 32 per cent from last year, with the Group’s revenue reaching USD $23.9 billion, an increase of 13 per cent. This makes it the largest capacity increase in the airline’s history, bringing Emirates’ total passenger and cargo capacity to 46.8 billion ATKMs. Source = ETB News: Lana Bogunovich “We are moving into the new financial year with confidence, and a strong foundation for continued profitability with our strong balance sheet, solid track record, diverse global portfolio and international talent pool.” last_img read more