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FINANCIAL NEWS
Emirates reports 56pct hike in profits
12 May 2016
(MENAFN) Due to lower oil prices that drove down fuel operating costs, the Middle East’s biggest airline, Emirates, saw its profits jump by nearly 56 percent to USD1.9 billion in the last fiscal year largely.
Meanwhile, the Dubai government-owned airline had its income decline in 2015-2016 by four percent to USD23.2 billion from a total of USD24.2 billion in 2014, mostly because of a stronger US dollar.
In spite the decrease in revenue, the airline’s fuel bill dipped to USD5.4 billion over the last year, comprising around 26 percent of operating costs, compared to 35 percent the year before.
Furthermore, Emirates carried about 52 million passengers in 2015-2016, which has helped its hub at Dubai International Airport claim the mantle as the world’s busiest for international passengers.
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