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Emirates' H1 FY2015-16 earnings surge 65pc, cargo volume up 10pc
THE net profit of the Emirates Group rose by 65 per cent in first half of fiscal year 2015-16 to US$1 billion, compared to the same period a year earlier, on 2.3 per cent lower revenues of $12.6 billion.
The volume of cargo carried by Emirates Airline from April to September increased by 10 per cent year on year to reach 1.25 million tonnes. However, during the same period in 2014, the airline had temporarily idled 17 aircraft at its hub at Dubai International airport while runway work was being carried out.
Despite being hit hard by the strong US dollar against other world currencies, the carrier was helped by declining oil prices.
"We made a calculated decision not to hedge our fuel prices, which paid off as fuel prices continued to soften," chairman and CEO of Emirates Group, Sheikh Ahmed bin Saeed Al Maktoum, was quoted as saying in a report by Air Cargo World.
Dnata, the airline's subsidiary, performed ground services for 170,000 aircraft during the reporting period, representing a year-on-year increase of 21 per cent, and handled 917,000 tonnes of cargo, up 10 per cent.
In the first six months of 2015 the carrier took delivery of 13 widebody aircraft, comprising eight Airbus A380s and five Boeing 777s, and retired four older aircraft.
Sixteen new aircraft are due for delivery before the end of its fiscal year, which is on March 31, 2016.
The volume of cargo carried by Emirates Airline from April to September increased by 10 per cent year on year to reach 1.25 million tonnes. However, during the same period in 2014, the airline had temporarily idled 17 aircraft at its hub at Dubai International airport while runway work was being carried out.
Despite being hit hard by the strong US dollar against other world currencies, the carrier was helped by declining oil prices.
"We made a calculated decision not to hedge our fuel prices, which paid off as fuel prices continued to soften," chairman and CEO of Emirates Group, Sheikh Ahmed bin Saeed Al Maktoum, was quoted as saying in a report by Air Cargo World.
Dnata, the airline's subsidiary, performed ground services for 170,000 aircraft during the reporting period, representing a year-on-year increase of 21 per cent, and handled 917,000 tonnes of cargo, up 10 per cent.
In the first six months of 2015 the carrier took delivery of 13 widebody aircraft, comprising eight Airbus A380s and five Boeing 777s, and retired four older aircraft.
Sixteen new aircraft are due for delivery before the end of its fiscal year, which is on March 31, 2016.
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