Abu Dhabi – Mubasher: The Emirates Group on Thursday announced that its profits dropped 70% year-on-year to AED 2.5 billion ($680 million) in the fiscal year ended 31 March 2017.
The group’s revenues rose 2% to reach AED 94.7 billion, while total investments in new planes and equipment reached AED 13.7 billion during the year, according to a statement.
As for the group’s subsidiary Emirates airline, profits amounted to AED 1.3 billion in the full-year period.
Dnata’s profit stood at AED 1.2 billion, registering its highest revenues since establishment, the statement showed. Dnata is an Emirates Group subsidiary and the world’s fourth largest combined air services provider.
The Emirates Group is a Dubai-based company with nearly 50 subsidiaries operating in the airline and tourism segments.
