Dubai – Mubasher: Emirates Group reported an 8% increase in profit to AED 1.2 billion ($320 million) over the first half (H1) of 2019, according to a statement by the company on Thursday.
The group's revenues declined by 2% year-on-year (YoY) to AED 53.3 billion ($14.5 billion) affected by several factors, including the closing of Dubai International Airport’s (DXB) runway, lower fuel cost, unfavourable currency movements, and Thomas Cook’s bankruptcy.
Emirates Airlines’ revenue went down by 3% to AED 47.3 billion ($12.9 billion) over H1-19, whilst profits leaped by 282% to AED 862 million ($235 million) in the same period in 2019.
The airline firm saw a 7.9% rise in the passengers carried to Dubai during H1-19, recording 29.6 million customers thanks to improvements in the seat load factor, which rose by 2.3% points reaching 81.1%.
“The global outlook is difficult to predict, but we expect the airline and travel industry to continue facing headwinds over the next six months with stiff competition adding downward pressure on margins. As a Group we remain focused on developing our business, and we will continue to invest in new capabilities that empower our people, and enable us to offer even better products, services, and experiences for our customers,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group.
The revenue for the air services provider, dnata, soared by 5% to AED 7.4 billion ($2 billion) during the six-month period in 2019, with the profits decreasing by 64% to AED 311 million ($85 million) meanwhile.
Due to major business expansion, 51.9 million meals were uplifted by 67%.
