Emirates airlines announces 24 percent higher profits for 2000
Emirates airlines announced on Saturday, April 28, a rise of 24 percent in its profits for the year 2000. Group chairman Sheikh Ahmad bin Saeed al-Maktoum stated that in spite of volatile world markets and higher costs, the Dubai-owned airline achieved profits of 531 million dirhams ($144 million), compared to profits of 428 million dirhams ($116.6 million) in 1999.
Of the overall income, profits for the airline alone rose 40.2 percent, from 301 million dirhams ($82 million) to 422 million dirhams ($115 million), al-Maktoum said in a press conference.
For the year ending March 31, 2001, revenues totaled 6.9 billion dirhams ($1.9 billion), representing an increase of 24 percent from the previous year.
Dnata Airport Services, the Emirates unit, posted a slight drop in net income—down 14 percent from 127 million dirhams ($34.6 million) in 1999, to 109 million dirhams ($29.7 million) in 2000. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)