admintriggered by the first full integration of Alpha Group. The results, which were released yesterday, represent the airline’s 24th consecutive year of profit and companywide growth amidst unprecedented economic pressure and record high fuel prices.
The group’s revenue reached a record high, climbing to US$18,4 billion, an increase of 17,8 percent on last year’s results.
The group’s cash balance grew by 9,5 percent reaching a strong US$4,8 billion.
“Achieving our 24th consecutive year of profit and maintaining an upward growth trajectory is an achievement that belies the industry norm,” said Sheikh Ahmed bin
Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group.
“Throughout the 2011/12 financial year the Group has collectively invested close to US$3,8 billion in new products. This investment has garnered new customers and increased our international presence.
“Successful business growth is not a matter of luck, it is the result of sustained and calculated investment. Every dirham that we earn is strategically ploughed back into our business and it is this foresight that has allowed the group to maintain such strong and consistent profitability.” Despite a difficult operating environment, the group continued to invest in and expand on its employee base, increasing its overall staff count by more than 10 percent.
During the year the airline received a staggering 22 new aircraft, its highest in any single year, funded by a wide variety of financing structures.
With an increased fleet, Emirates further invested in its network by adding 11 new destinations and increasing capacity to 34 cities, a record for the airline.
“Managing volatile exchange rates, coupled with our highest ever fuel bill has required immense tenacity.
“Retaining growth and remaining profitable in these challenging economic times shows our profound understanding of the markets that we do business in,” added Sheikh Ahmed. — AFP.
Online Reporter