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Emirates Group announces record 50% profit increase

Tuesday, 10 May 2016 10:37

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Group and Airline at the announcement of the company's profit for the fiscal year 2015-2016.

Emirates Group has posted a record 50% increase in profit during the fiscal year 2015-2016, at AED 8.2 billion. Revenue fell 3% to AED 92.9 billion, mainly due to the strong US dollar. Cargo tonnage was up 6%, and now accounts for $1 in $7 for its airline Emirates' revenue. During the said period, the group’s workforce grew 13%, hiring nearly 100,000 employees worldwide under Emirates and its air services firm dnata. Dnata’s also had a record year, crossing $1 billion or AED 3.67 billion for the first time. His Highness Sheikh Ahmed bin Saeed Al Maktoum, CEO and chairman of Emirates Group, says the airline will continue to build its brand as it strives to reach new heights. The company says low oil prices lifted its profit margin to 8.4%, but it also meant fewer first and business class bookings for the airline. ARN News spoke to His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.

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