Emirates airline Thursday said it had suffered a 72.1 per cent decline in net profit for financial year 2011-12 owing to high fuel prices.
The airline’s net profit for the financial year ended March 31 was Dh1.5 billion ($409 million) compared to the previous year net profit of Dh5.38 billion.
Emirates airline statement
“The stifling cost of jet fuel impacted Emirates’ bottom line with the airline’s profit sitting significantly lower than the previous year,” the carrier said in a statement, adding that in 2011-12 financial year Emirates’ fuel bill increased by 44.4 per cent over last year to reach Dh24.3 billion.
With the carrier’s operating costs increasing by 24 per cent compared to a revenue increase of 16.2 per cent over last year, Emirates said it “bore the brunt of the crippling cost of fuel for nearly one year”, before reluctantly introducing a fuel surcharge on all tickets.
The airline also stated that in addition to the cost of fuel, Emirates had an “operationally challenging year with the political unrest across the Middle East and North Africa affecting flight schedules”.
Performance: Emirates’ annual results
Net profit recorded by Emirates Group — Dh2.3b
Emirates Group revenues — Dh67.4b
Passengers carried by Emirates — 34m
Value of Emirates’ fuel bill — Dh24.3b
44% jump in airline’s fuel bill
11 destinations added to the route network
Dh808 million profit recorded by dnata
$84 billion — value of aircraft order
232 aircraft on order
Dh14 billion invested in new products – aircraft, cabin and lounges
22 aircraft joined the fleet last year
63,000 employees on payroll
Dh17.6 billion cash balance
171 aircraft on fleet
Region-wise revenues
Dh18.2 billion from East Asia and Australasia
Dh17.1 billion from Europe
Dh7.1 billion from West Asia and Indian Ocean
Dh6.7 billion from the Americas
Dh6.3 billion from Gulf, Middle East and Iran
Dh6.1 billion from Africa
0 comments:
Post a Comment