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FINANCIAL NEWS
Dubai’s Emirates expects full-year revenue to grow by 18-20%
11 Feb 2013
(MENAFN) Emirates airline president, Tim Clark, stated that during the financial year ending March 31, the carrier’s revenue is expected to rise by between 18-20 percent, reported Gulf News.
Clark attributed the projected growth to an increase in the number of passengers the airline would carry in the year, which is forecasted to reach 37 million.
He noted that in the previous year, the world’s No.1 carrier by international traffic carried 34 million passengers and recorded a revenue of USD17 billion.
However, the president warned that higher oil prices will affect the company’s financial results, as the fuel bill will absorb nearly 40 percent of the company’s revenues this year.
Clark said that in 2012, the fuel bill grew by USD8 billion as a result of higher oil prices.
It is worth noting that Emirates full-year 2011-12 net profit plunged by 72 percent due to a surge in fuel bill.
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