Emirates net profit up 74 percent
The Emirates Group posted a 74 percent increase in net profits reaching 1.05 billion Emirati dirhams ($285.7 million) for the financial year 2002/3, ending on March 31. Emirates Airline's operations alone achieved a 94 percent increase in profits, from Dh 468.2 million to Dh 906.7 million.
The average passenger seat factor rose to 76. 6 percent, breaking all previous records, and cargo represented 19.6 of the airline's revenue. Total Group revenue increased by 31 percent to Dh 10.2 billion in the year ending March 31 compared with Dh 7.8 billion in the previous year. Dnata returned a net income of Dh 141.7 million, up from Dh 134.8 million for last year.
During the 2002/03 financial year, services were launched to Casablanca, Khartoum, Mauritius, Perth, Osaka and Cochin, bringing the number of destinations to 64 in 45 countries. Frequencies were increased at a number of destinations, including London, Johannesburg and Tehran. — (menareport.com)
© 2003 Mena Report (www.menareport.com)