Flying High

November 6, 2006 (LBO) – Dubai’s Emirate Airlines Monday reported a steady profit growth as the carrier flew more passengers and carried more cargo to offset historically high fuel prices. For the six months ended Sept 30, net profit was up 29 percent to 323 million dollars over the same period last year.

Emirates’ operating revenue of 3.67 billion dollars was 30 percent higher than 2.84 billion dollars posted in the same period last year.

Passenger revenue rose 31 percent growth, as the airline flew 8.39 million people on board. Seat factor improved to 76.4 per cent for the period, reflecting the robust demand in tandem with an increased passenger seat capacity (in terms of available seat kilometres) of 25 per cent, versus the same period last year.

Revenues for Emirates SkyCargo rose 29 percent, with cargo tonnage up by 20 per ent to 577,455 tonnes, which in turn contributed about 21 percent of the airline’s transport sales.

Fuel costs for the first six months crossed a billion dollars and remained the top expenditure accounting for 30.7 per cent of total operating costs, up from 27.2 per cent for the full period last year.

Measures taken by Emirates to rem