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Tag: Emirates Group

  • Emirates Group declares $14.8bn profit half year performance

    The Emirates Group has declared  its half-year results for 2018-19, posting a profit of $14.8 billion in the first six months representing 10 per cent higher the figures of same period last year.

    The Group saw steady revenue growth compared to the same period last year, however profits were impacted by the significant rise in oil prices, and unfavourable currency movements in certain markets, amidst other challenges for the airline and travel industry.

    The Emirates Group revenue was $ 14.8 billion) for the first six months of its 2018-19 financial year, up 10 per cent from $ 13.5 billion  during the same period last year.

    Profitability was down 53 per cent compared to the same period last year, with the Group reporting a 2018-19 half-year net profit of $ 296 million.

    The profit erosion was primarily due to the significant increase in fuel prices of 37 per cent compared to the same period last year, as well as the negative impact of currencies in certain markets.

    The Group’s cash position on September 30,  2018 was $ 5.9 billion compared to $ 6.9 billion as at March 31, 2018.

    Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “Emirates grew steadily in the first half of 2018-19. Demand for our high quality products and services remained healthy, as we won new and return customers across our businesses and this is reflected in our revenue performance. However, the high fuel cost as well as currency devaluations in markets like India, Brazil, Angola and Iran, wiped  from our profits.

    Read Also: Emirates Group honours top employees

    “We are proactively managing the myriad challenges faced by the airline and travel industry, including the relentless downward pressure on yields, and uncertain economic and political realities in our region and in other parts of the world. We are keeping a tight rein on controllable costs and will continue to drive efficiency improvement through the implementation of new technology and business processes.

    “The next six months will be tough, but the Emirates Group’s foundations remain strong. I’m pleased to note that our home and hub in Dubai continues to attract travel demand, as the airline saw  more customers enjoying Dubai as a destination in the first half of 2018-19 compared to the same period last year. ” We expect this demand to remain healthy as new attractions come online and the city gears up for Dubai Expo 2020. Moving forward we are firmly focussed on sustaining our business. We will do this by being agile to capitalise on opportunities, and investing to serve our customers even better with high quality products that they value.”

    In the past six months, the Group’s employee base reduced by  one per cent compared to 31 March 2018, from an overall average staff count of 103,363 to 101,983. This was largely a result of natural attrition, together with a slower pace of recruitment as the business continues its various internal programmes to improve efficiency through the implementation of new technology and work flows.

    During the first six months of 2018-19, Emirates received 8 wide-body aircraft –  three  Airbus A380s, and  five  Boeing 777s, with  five  more new aircraft scheduled to be delivered before the end of the financial year. It also retired 7 older aircraft from its fleet with further 4 to be returned by  March 31 , 2019. The airline’s long-standing strategy to invest in the most advanced wide-body aircraft enables it to improve overall efficiency and provide better customer experiences.

    Emirates continues to offer ever better connections for its customers across the globe with just one stop in Dubai.

    In the first six months of its financial year, Emirates launched new passenger services to Stansted (UK) and Santiago (Chile).  It also introduced a new linked service from Dubai via Bali to Auckland. As of 30 September, Emirates’ global network spanned 161 destinations in 85 countries. Its fleet stood at 269 aircraft including freighters.

    Emirates further developed its partnership with flydubai, offering customers even more benefits as both airlines combined their loyalty programme under Emirates Skywards.  Customers also enjoy new flight choices as Emirates and flydubai continued to leverage their complementary networks to optimise flight schedules and offer new city-pair connections through Dubai, as well as open new routes including Kinshasa (Congo), Krakow (Poland), and Catania (Italy) in the first half of 2018-19.

    Overall capacity during the first six months of the year increased a modest  three per cent  to 31.8 billion Available Tonne Kilometres (ATKM). Capacity measured in Available Seat Kilometres (ASKM), grew by  four per cent , whilst passenger traffic carried measured in Revenue Passenger Kilometres (RPKM) was up six months  with average Passenger Seat Factor rising to 78.8 per cent  compared with last year’s 77.2 per cent .

    Emirates carried 30.1 million passengers between  April 1 , 2018  and September 30,  2018, up three per cent  from the same period last year. The volume of cargo uplifted at 1.3 million tonnes is largely unchanged while yield improved by a healthy 11 per cent  .This performance is the result of Emirates SkyCargo’s focused investments in products and services tailored to key sectors, which gives it a strong competitive edge in a recovering global air freight market.

  • Emirates Group makes $670m profit

    The Emirates Group has announced a $670 million profit for the financial year ending March 31,  2017, down 70 per cent  from last year’s record profit.

    This is the group’s 29th consecutive year of profit and steady business expansion despite a turbulent year for aviation

    The group’s revenue reached          $25.8 billion, representing an increase of  two per cent  over last year’s results. However, its cash balance decreased by 19 per cent to $5.2 billion,  mainly due to the repayment of two bonds on maturity and ongoing high investments into its fleet and aircraft related assets.

    In line with the business climate and to support the future investment plans of the Group, no dividend payment will be made to the Investment Corporation of Dubai (ICD) for 2016-17.

    Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “Emirates and dnata    have continued to deliver profits and grow the business, despite 2016-17 having been one of our most challenging years to date.

    “Over the years, we have invested to build our business capabilities and brand reputation. We now reap the benefits as these strong foundations have helped us to weather the destabilising events which have impacted travel demand during the year – from the Brexit vote to Europe’s immigration challenges and terror attacks, from the new policies impacting air travel into the US, to currency devaluation and funds repatriation issues in parts of Africa, and the continued knock-on effect of a sluggish oil and gas industry on business confidence and travel demand.”

  • Emirates Group profit hits $2.2billion

    Emirates Group profit hits $2.2billion

    Emirates Group profit has hit $2.2 billion. This was attained amid operational challenges.

    In its 2015-16 Annual Report, the Group posted the $2.2 billion profit for the financial year ending March 31,  2016, higher  with 50 per cent than last year’s.

    Its earning was $25.3 billion,  a decrease of  three per cent over last year’s while the cash balance increased to $6.4 billion.

    Emirates Airline Chairman and Chief Executive Sheikh Ibn Ahmed Saeed Al Maktoum said: “Emirates and Dnata, its subsidiary, delivered record profits, solid business results, and continued to grow throughout 2015-16.

    “Against an unfavourable currency situation, which eroded our revenues and profits, an uncertain global economic environment dogged by weak consumer and investor sentiment, as well as ongoing socio-political instability in many regions around the world, the Group’s performance is testament to the success of our business model and strategies.

    “Our ongoing investments to develop our people and enhance our business performance, enable us to react with agility to the new challenges and opportunities that every year brings. In 2015-16, the group collectively invested over $ 4.7 billion in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies, and staff initiatives. These will build on our strong foundations, extend our competitive edge, and accelerate our progress towards our long-term goals.”

    The group’s employee base is more than 80 subsidiaries and companies increased by 13 per cent  to over 95,000-strong members of staff, representing over 160 different nationalities.

    He said :“Looking at the year ahead, we expect that the low oil prices will continue to be a double-edged sword – a boom for our operating costs, but a bane for global business and consumer confidence. The strong US dollar against major currencies will remain a challenge, as will the looming threat of protectionism in some countries.

    However, we enter the new financial year with confidence, backed by a robust balance sheet, solid track record, diverse global portfolio, and international talent pool. We will continue to evolve and grow our business profitably, and work even harder to meet and exceed our customers’ expectations.”

    Emirates’ total passenger and cargo capacity, he said, crossed the 56 billion mark to 56.4 billion  at the end of 2015-16, cementing its position as the world’s largest international airline.

    Emirates received 29 new aircraft, its highest number during a financial year, including 16 A380s, 12 Boeing 777-300ERs and one Boeing 777F, bringing its total fleet to 251 at the end of March.

  • Emirates to hire over 11,000 new staff

    Emirates to hire over 11,000 new staff

    Emirates Group, comprising Emirates airline and dnata, plan to hire over 11,000 new staff in the coming year across its business, in line with its projected growth across six continents.

    This would increase its staff size by six per cent by March 2016. About half of the new recruits will comprise Dubai-based cabin crew for Emirates airline. As the airline gears up to receive over 20 new aircraft this year, it is also actively recruiting talent in areas such as Flight Operations, Engineering, Airport Services and Corporate functions.

    dnata, which today provides aviation and travel services in 90 cities across 38 countries, is also seeking talent for its growing business, particularly airport operations, Engineering and commercial business development.

    “Both Emirates and dnata are exciting and industry-leading companies. Skilled candidates know they can look forward to a truly international and multi-cultural working environment, as well as good career prospects with a stable and growing company. Our brand, our financial success and stability, and our growth, makes Emirates Group an attractive employer in the global arena for the best talent, and that’s why each month we receive thousands of applications from candidates across the world looking to join our dynamic team,” said Abdulaziz Al Ali, Executive Vice President Human Resources, Emirates Airline and Group.

    “Right now, we have over 75,000 employees in Dubai and around the world. More than 12,000 of our employees have been with the Group for over 10 years, and almost 3,000 have worked with us for over 20 years. More than anything, these facts illustrate the type of employer we are and the opportunities that we can offer.”

    Last year, Emirates received about 483,944 online applications for over 2,000 jobs, from over 227 countries. It also received an average of 1,500 career-related enquiries each month on its social media channels.

    The Group’s careers portal, emirates.com/careers, receives over a million visitors every month from candidates around the world, whether to browse job vacancies, subscribe to alerts for job vacancies matching their experience, or submit an application. A majority of online visits originate from the UAE, followed by India, UK and the US.