Emirates’ half-year performance hits new record

Kris Canekeratne at LBR LBO Tech Conference

Nov 01, 2010 (LBO) – Dubai-based Emirates airline’s first-half profit shot up 351 percent to 925 million US dollars (3.4 billion UAE Dirhams) from a year ago as it carried more passengers and cargo, a statement said.

The airline attributes the sharply higher profit in the six months ending September 30, 2010 mainly to growth in passenger traffic which was up 17.3 percent to 15.5 million.

Emirates’ passenger seat factor or the actual passengers carried as a share of available seats, was 81.2 percent, the highest ever for a first six month reporting period.

“We continue to invest our profits in growing the business,” Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Airline group said.

“With 62 modern aircraft ordered in the first half, we remain well positioned to capitalise on this growth.”

Emirates SkyCargo has also seen a strong half year performance, posting an increase in revenue of 48.4 percent.

Cargo tonnage was up by 23.7 percent to 897 thousand tonnes, compared with 725 thousand tonnes for the same period last year.