{"id":139369,"date":"2023-05-11T12:00:00","date_gmt":"2023-05-11T12:00:00","guid":{"rendered":"https:\/?p=139369"},"modified":"2023-05-11T23:50:42","modified_gmt":"2023-05-11T23:50:42","slug":"emirates-reports-record-3-billion-annual-profit","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2023\/05\/emirates-reports-record-3-billion-annual-profit.html","title":{"rendered":"Emirates reports record $3 billion annual profit"},"content":{"rendered":"\n

Emirates Group<\/strong> on Thursday said financial year 2022-23 had been its most profitable so far, reporting an annual profit of 10.9 billion dirhams ($3 billion) and a group revenue increase of 81% to $33 billion.<\/p>\n\n\n\n

Emirates airline, which along with airport services business dnata makes up Emirates Group, made a $2.9 billion profit.<\/p>\n\n\n\n

The state-owned carrier had posted an annual loss of $1.1 billion for 2021-22, following a $5.5 billion loss the year before that.<\/p>\n\n\n\n

The airline had made a “full recovery” since the hit to demand caused by the pandemic, Chairman and Chief Executive Officer Sheikh Ahmed bin Saeed Al Maktoum said.<\/p>\n\n\n\n

\u2192 Emirates launches new route between Dubai and Montreal, Canada<\/a><\/em><\/strong><\/p>\n\n\n\n

“As the last travel restrictions lifted and triggered a tide of demand, we were ready to expand our operations quickly,” he said.<\/p>\n\n\n\n

Emirates airline said it filled 79.5% of seats flown, up from 58.6% a year earlier, and was now flying to 150 destinations from more than 140 last year.<\/p>\n\n\n\n

The group’s global airport and travel services business dnata made a $90 million profit, representing a 201% year-on-year increase.<\/p>\n\n\n\n

Emirates also said it had committed $200 million to a research fund focusing on reducing the impact of fossil fuels in commercial aviation, because hitting net zero emissions targets would not be possible with currently available options.<\/p>\n\n\n\n

Emirates Group said it invested $2 billion in new aircraft, facilities, equipment, companies, and technology in 2022-23.<\/p>\n\n\n\n

Its order book stands at 200 aircraft, it said.<\/p>\n\n\n\n

Sheikh Ahmed said the group expected to remain profitable in 2023-24, “while keeping a close watch on inflation, high fuel prices, and political and economic uncertainty”.<\/p>\n\n\n\n

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