Emirates more than doubles half-year profits
Emirates Airlines recorded a 140 percent rise in half-yearly profits reaching 404.2 million Emirati dirhams ($110 million) compared to $45.7 million last year. The airline posted operating revenues of $1.7 billion, a growth of 27 percent compared to $925.7 million in 2001.
Even though overall seat capacity increased by 18 percent, seat factor increased to 78 percent compared to 74 percent the previous year, with cargo revenues growing by 38 percent. The cash balance at September’s end was $1.1 billion compared to $763 million last year.
Emirates is continuing to invest in improving passenger comfort by acquiring new Airbus A330 and Boeing 777-300 aircraft, opening a new First and Business Class Check-in Lounge at Dubai International Airport, and inaugurating services to five new passenger and two new cargo destinations. — (menareport.com)
© 2002 Mena Report (www.menareport.com)