Emirates airline posts $903m in half-year profit amid regional disruptions
Dubai's Emirates airline posted a 66 per cent decline year-on-year in its in half-year profits after tax to Dh3.3 billion ($903 million), amid regional disruptions due to the Iran war and high fuel costs. Revenue for the six months to the end of September also declined 13 per cent annually to Dh56.9 billion, the airline said on Thursday. The airline’s fiscal year ends in March. “It has been a…
Emirates airline reported a 66% drop in half-year profits to Dh3.3 billion ($903 million) due to regional disruptions caused by the Iran war and increased fuel costs, according to a statement released on Thursday. The airline's revenue for the six months ending September 30 also declined 13% year-on-year to Dh56.9 billion. Emirates' chairman and CEO, Sheikh Ahmed bin Saeed, praised the company's business model and workforce for navigating the challenges.
The airline's performance was robust despite the difficulties, driven by steady travel demand, particularly in premium cabins, and a strong cargo business. Emirates carried 21.8 million passengers during this period, a 22% decrease from the same period last year. The Group's half-year profit after tax was Dh3.6 billion, while revenue reached Dh66.2 billion.
Sheikh Ahmed highlighted the resilience of Emirates Group amid regional challenges and high fuel costs, emphasizing the company's strong cash position and solid foundation.
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