The Emirates Group has reported its 21st consecutive year of net profit for its 2008-09 financial year despite unprecedented challenges for the airline and travel industry.
The Group’s net profit of AED 1.49 billion (US$ 406 million) for its financial year ending 31st March 2009, was down 72 per cent from the previous year’s record profits of AED 5.3 billion (US$1.45 billion), showing the impact of the record fuel prices in the first six months of the year, and the impact of the global recession.
At the same time, Group revenues of AED 46.3 billion ($ 12.6 billion), representing an increase of 10.4 per cent over the previous year’s AED 41.9 billion ($ 11.4 billion), reflects continued business growth.
• Group posts net profit of AED 1.49 billion (US$ 406 million) on revenue growth of 10.4% to AED 46.3 billion (US12.6 billion)
• Airline makes net profit of AED 982 million (US$ 268 million)
• Dnata makes net profit of AED 507 million (US$ 138 million)
• Group’s estimated contribution to UAE economy worth AED 58.8 billion (US$ 16.0 billion)