Dubai - Emirates Group profit increase by 50 per cent to Dh8.2 billion and revenues at Dh93 billion
Published: Tue 10 May 2016, 10:43 AM
Updated: Sun 15 May 2016, 10:43 AM
Emirates, Dubai's flagship airline, on Wednesday reported the highest ever annual profit of Dh7.1 billion ($1.9 billion).
The group declared a dividend of Dh2.5 billion for the financial year to March 31, 2016, Shaikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates airline and Chief Executive of the Emirates Group, told a news conference.
The Emirates Group's profit jumped by 50 per cent to Dh8.2 billion and revenues at Dh93 billion ($25.3 billion), an decrease of 3 per cent over last year's results said Shaikh Ahmed, who is also president of the Dubai Civil Aviation Authority.
The group - comprising the world's fastest growing carrier Emirates airline, SkyCargo and airport handling company dnata - said it ended 2016 on a strong note despite the many global and operational challenges.
Shaikh Ahmed, who is also president of the Dubai Civil Aviation Authority, said lower oil prices had saved the airline around Dh9 billion during the financial year.
abdulbasit@khaleejtimes.com
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