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Emirates profits decline 75% in H1

03 Nov 2011

(MENAFN) Emirates Airline recorded a 75 percent decline in first half profits to USD225 million from USD922.7 million a year earlier, affected by the rising fuel costs and Arab Spring, Arabian Business reported.

Dubai-based carrier also unveiled a 15 percent rise in revenue to USD8.24 billion for the six months to Sept 30 from USD7.2 billion a year earlier.

Currency translation differences also shed USD6.5 million for the airline in the first half compared to the same amount gain last year, according to the statement.

Passenger seat factor, a key industry benchmark of profitability, was above 79 percent, said Emirates.

It is worth mentioning that Emirates Airline, owned by the government of Dubai, made an order worth more USD66 billion, to include around 199 planes scheduled for delivery through to 2019.

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