Emirates airline quarterly profits soar to $964m

12 May 2010

(MENAFN) Dubai government-owned Emirates, the biggest Arab airline, said in a statement that its annual profit more than quadrupled on cost savings and a rise in revenue from core business, Gulf News reported.

Net income in the 12 months to March 31 advanced to $964 million from an adjusted $187 million announced today for the previous year, the airline?s chairman announced in Dubai.

Revenue for Emirates Group, which also includes ground handling and cargo services company Dnata, amounted to $12.4 billion and its cash balance was $3.4 billion.

The airline said the 2009 seat factor averaged 78.1 percent with a rise of 21 percent in passengers to 27.5 million. Cargo rose 12 percent to 1.6 million tons.

Emirates has firm orders for 145 aircraft worth more than $48 billion and is the biggest customer for Airbus? double- decker A380, with an initial order for 58.

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