The world's fourth-largest carrier of international passengers reported a Dh3.3 billion profit for 2013 compared to Dh2.3 billion for the previous year, according to its financial statement. Its revenues rose to Dh82.6 billion showing a 13 per cent increase over previous year's Dh73.1 billion.
"It has been a good year. There was growth in our business all round and fuel costs fell by about four per cent last year, which helped,"
He said that the profit margin is more than double the industry. Responding a question, he said that the 80-day runway repair will at
Emirates is expected to be more of the same as it heads towards a 27th straight year of profitability, according to a senior aviation analyst.
"Emirates' 26th year of profitability underlines the airline's excellent execution of managing to grow faster than any other airline while being totally independent,"
Emirates, which is the world's largest customer for the twin-deck Airbus A380 as well as for
Emirates has used
The carrier is also seeing average fares come under pressure as rivals seek to counter its expansion,
"Our industry has always been competitive and that competition is getting more intense."
He mentioned that competition from other airlines, which "lobby their governments to restrict us" remained another challenge.
An Emirates route from
In 2013-14, Emirates increased capacity by 5.9 billion Available Tonne Kilometres (ATKMs), the largest capacity increase in the airline's history in a single year. This brings Emirates' total passenger and cargo capacity to 46.8 billion ATKMs at the end of the financial year. The airline also marked a new record of over 1 million block hours in terms of fleet production.
Emirates received 24 new aircraft during the year, including 16 A380s, six Boeing 777-300ERs and two Boeing 777Fs, bringing its total fleet count to 217. The airline remains the world's largest operator of the Boeing 777 and A380 – both aircraft being amongst the most modern and efficient wide-bodied jets in the sky today.
Emirates revenue for the first time surpassed Dh80 billion, at a new record of Dh82.6 billion. While the average price of jet fuel remained high, it was slightly lower compared to last year and has supported Emirates' bottom line improvement. Emirates' fuel bill increased by 10 per cent over last year to reach Dh30.7 billion. Total operating costs increased by 12 per cent, compared to a revenue increase of 13 per cent over the 2012-13 financial year.
The airline successfully managed increased competitive pressure across all markets to record a profit of Dh3.3 billion, an increase of 43 per cent over last year's results, and a healthy profit margin of 3.9 per cent.
Carrying record passengers, Emirates maintained a robust Passenger Seat Factor at 79.4 per cent, nearly consistent with last year's results in spite of a 15 per cent increase in seat capacity by Available Seat Kilometres (ASKMs). This highlights the strong consumer desire to fly on Emirates' state-of-the-art aircraft. Passenger yield remained steady at 30.4 fils (8.3 US cents) per Revenue Passenger Kilometre (RPKM).
Emirates also improved its premium seat factor despite lingering economic uncertainty and strong competition in many markets. Premium and overall seat factor for the airline's flagship A380 aircraft outperformed the network, underscoring the popularity of Emirates' premium and A380 product amongst passengers. Over 18 million passengers had flown on an Emirates A380 when the airline marked its fifth anniversary of A380 operations in
Revenue generated from across Emirates' six regions continues to be well balanced, with no region contributing more than 30 per cent of overall revenues.
Across the rest of the globe Emirates saw strong revenue increases from
In its first full year of operations, the newly commissioned Concourse A at
Looking forward to 2014-15, Emirates has to date announced five new passenger routes including
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