English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Emirates reports profit jump

DUBAI: May 10, 2016. Emirates Group reported a 50 percent increase in profits to US$2.2 billion for its financial year ending March 31, 2016 on revenue of US$25.3 billion, a 3.0 percent drop over the previous period. The Group declared a dividend of US$ 681 million to its principal owner, the Investment Corporation of Dubai.

EK A380sEmirates SkyCargo reported revenue of US$3.0 billion, a decline of 9.0 percent over 2015/16 as uplift increased 6.0 percent to reach 2.5 million tonnes. The division contributed 14 percent of the airline’s total transport revenue and remained the No.1 air cargo carrier worldwide as measured by freight tonne-kilometers flown.

Last year saw increased freighter operations to Mexico City and the launch of new services to Ho Chi Minh City, Ahmedabad (India), Columbus (USA), Algiers, and Ciudad Del Este (Paraguay) with a fleet that included 13 B777F and two B747-400F.

Dnata reported profit of US$287 million on revenue of US$2.9 billion for 2015/16 with international business accounting for over 64 percent of the total. Revenue from its UAE airport operations, including aircraft and cargo handling, increased 13 percent to reach US$777 million.

While the number of aircraft handled by dnata in the UAE rose 12 percent to 211,000, cargo handling dropped 6.0 percent to 689,000 tonnes - “reflecting the cargo industry’s ongoing malaise,” noted the company.

Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO Emirates Airline and Group said the rise of the U.S. dollar against currencies in most of Emirates’ key markets had reduced the airline’s bottom line by US$ 1.1 billion in the past 12 months.

“Looking at the year ahead, we expect that the low oil prices will continue to be a double-edged sword – a boon for our operating costs, but a bane for global business and consumer confidence. The strong U.S. dollar against major currencies will remain a challenge, as will the looming threat of protectionism in some countries,” he said.

For 2016-17, Emirates has announced new routes to Yinchuan and Zhengzhou in China, Yangon in Myanmar and Hanoi in Vietnam, in addition to capacity upgrades to existing destinations.

More News

Written on 22/03/2017, 20:44
flying-eye-hospital-arrives-in-dohaDOHA: March 22, 2017. Qatar Airways has welcomed the arrival of the Orbis Flying Eye Hospital from the UK where the non-profit organization had earlier...
Written on 21/03/2017, 21:12
fedex-to-launch-round-the-world-from-liegeMEMPHIS, TN: March 21, 2017. Next month FedEx is to begin a B777 freighter flight from Liège, Belgium to Memphis as part of a round-the-world service...
Written on 16/03/2017, 20:20
k-n-acquires-two-pharma-logistics-companiesSCHINDELLEGI, Switzerland: March 16, 2017. Kuehne + Nagel is to acquire two specialist logistics companies in Turkey and Italy to expand its good...
Written on 15/03/2017, 17:52
panalpina-expands-circular-economy-centerDUBAI: March 15, 2017. Panalpina has officially opened its 40,000 square meter logistics manufacturing center in Dubai Logistics City, part of the bonded...
Written on 15/03/2017, 17:12
coyote-logistics-opens-in-guadalajara-mexicoCHICAGO: March 14, 2017. UPS 3PL subsidiary Coyote Logistics has opened a new office in metropolitan Guadalajara, Mexico to develop transborder truckload,...
Written on 15/03/2017, 15:20
auto-traffic-switches-from-road-to-railKIRCHHEIM/TECK, Germany: March 15, 2017. After a five-year hiatus, automobile logistics specialist Mosolf Group is re-introducing a weekly rail link...
Written on 14/03/2017, 19:47
unisys-offers-pay-for-use-air-cargo-managementLONDON: March 14, 2017. Unisys has launched 'Digistics' - described by the company as an "integrated cargo logistics solution" for carriers to streamline...
Written on 14/03/2017, 17:03
mercator-introduces-ice-in-abu-dhabiABU DHABI: March 14, 2017. IT solutions provider Mercator, majority-owned by Warburg Pincus Investments, has launched what it says is the air cargo...
Written on 14/03/2017, 15:59
unilode-wins-saudi-arabian-airlines-contractABU DHABI: March 14, 2017. Unilode, the ULD management company formerly known as CHEP, has won a major outsource contract from Saudia and Saudia Cargo to...
Written on 13/03/2017, 15:37
2016-revenue-increase-for-turkish-cargoISTANBUL: March 13, 2017. Turkish Airlines has reported a six percent rise in air cargo revenue in 2016 to US$996 million. Some US$600 million was...
Written on 10/03/2017, 21:49
nec-to-develop-visibility-platform-for-pandemic-responseTOKYO: March 09, 2017. The U.N. World Food Programme (WFP) and NEC Corporation are to develop the first supply chain visibility platform for pandemic...
Written on 10/03/2017, 20:21
airbus-helps-south-sudan-refugeesTOULOUSE: March 09, 2017. The Airbus Foundation has used an A330 test aircraft to carry 17 tonnes of aid equipment from the UK to Uganda for refugees...
Written on 09/03/2017, 22:32
the-alliance-sets-up-post-hanjin-insurance-planHAMBURG: March 09, 2017. On April 01 'THE Alliance' of Hapag- Lloyd, 'K'Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75 major ports on...
Written on 09/03/2017, 16:35
another-quarter-decline-in-airline-profitsGENEVA: March 09, 2017: IATA says a drop in profits for its member airlines that began in Q3 2016 continued into the last quarter, despite margins...
Written on 09/03/2017, 14:55
hutcheson-to-operate-new-swedish-box-portSTOCKHOLM: March 08, 2017. Hutchison Ports is to operate the container terminal at Stockholm's new Norvik Port, due to open in three years. The facility,...
Written on 08/03/2017, 22:18
record-net-profit-for-deutsche-post-dhlBONN: March 08, 2017. Deutsche Post DHL (DPDHL) has reported a 71.4 percent rise in net profit of €2.64 billion on a 3.2 percent decline in revenue of...
Written on 07/03/2017, 19:49
yusen-supply-chain-uses-circular-economy-and-carbon-offsetHOOFDDORP, The Netherlands: March 07, 2017. Yusen Logistics has won a contract to manage the supply chain of diesel-engine cylinder blocks from...
Written on 06/03/2017, 16:54
universal-expansion-in-dubaiDUBAI: March 05, 2017. Universal Express, the Dubai-based wholesale courier, has appointed former FedEx veteran Brian Britnor as its new CEO as part of an...
Written on 03/03/2017, 17:17
2017-has-great-political-uncertainties-says-panalpinaBASEL: March 02, 2017. Panalpina has reported a consolidated profit of CHF80.2 million on net revenue of CHF5.19 billion for 2016, a reduction from...
Written on 02/03/2017, 20:49
amazon-no-1-purchaser-of-renewable-energySEATTLE: March 02, 2017. As the U.S. Environmental Protection Agency faces Trump budget cuts under its new climate change-denying head, Amazon has...

- powered by Quickchilli.com -