Emirates continues to steer expansion in hard times

Emirates Group, based in Dubai in the United Arab Emirates, will pursue its way in hard times as well. “We will continue to expand our fleet and route network. The financing of this growth is secured thanks to the consolidated business footing and the successful development during the last years”, announced Chairman and Chief Executive Officer Sheikh Ahmed bin Saeed Al-Maktoum at the presentation of the annual report for the fiscal year 2008/09 (March, 31). “Emirates Group will start operating 18 new air crafts in the current fiscal period,” he added.

For the 48,246 employees of Emirates Group the fiscal year 2008/09 was characterised by elevated kerosene prices between April and October, and by the global economic recession. While turnover amounted to USD 12.6 billion (+ 10.4%), net profit plummeted by 72 per cent to USD 406 million. In spite of a difficult framework Sheikh Ahmed expects a satisfying growth rate for the current year.

In its 2008/09 balance sheet Emirates Airline shows a turnover of USD 12 billion (+ 9.9%) and a profit of USD 268 million. Thus the record value of the previous year was failed by 80.4 per cent. The cargo division Emirates SkyCargo forwarded 1.4 million tons of air freight, which is 9.8 per cent more than in the same period last year. With USD 2.1 billion this division generated 19 per cent of the total transport volume of the Emirates Group.

In the reporting period Emirates Airline added four Airbus A380, ten Boeing 777-300ER and six Boeing 777-200LR to their fleet. At the moment 134 wide-body aircrafts are operating in the colours of the airline, among which are 8 freight-only machines (7 B747-400F, 1 B777F). The route network comprises 99 destinations on six continents.

Quelle: Österreichische Verkehrszeitung