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| Emirates SkyCargo. — Photo Emirates Group |
HCM CITY (Biz Hub) – The Emirates Group announced its 28th consecutive year of profit and steady business expansion, ending the year with record profits despite global and operational challenges during the 2015-2016 financial year.
Released recently in its 2015-2016 Annual Report, the group posted an AED8.2 billion (US$2.2 billion) profit for the financial year ending March 31, 2016, up 50 per cent from last year.
The group's revenue reached AED93 billion, a decrease of 3 per cent over last year's results while the group's cash balance increased strongly to AED23.5 billion.
Emirates and ground handling, cargo, travel and catering services (dnata) delivered record profits, solid business results, and continued to grow throughout 2015 and 2016.
"The group collectively invested more than AED17.3 billion in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies. These will build on our strong foundations, extend our competitive edge, and accelerate our progress towards our long-term goals," His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said.
The group' total passenger and cargo capacity crossed the 56 billion mark, to 56.4 billion Available Tonne Kilometres (ATKMs) at the end of 2015-2016, cementing its position as the world's largest international airline. The airline increased capacity during the year by 5.5 billion ATKMs, or 11 per cent over 2014-2015 period.
Emirates received 29 new aircraft, its highest number during a financial year, including 16 A380s, 12 Boeing 777-300ERs and one Boeing 777F, bringing its total fleet count to 251 at the end of March.
For 2016-2017, Emirates has announced new routes to Yinchuan and Zhengzhou in China, Yangon in Myanmar and Hà Nội in Việt Nam, aside from capacity upgrades to existing destinations.— VNS