AIRLINK 58.23 Decreased By ▼ -0.37 (-0.63%)
BOP 6.24 Increased By ▲ 0.03 (0.48%)
CNERGY 3.97 Decreased By ▼ -0.02 (-0.5%)
DFML 16.07 Increased By ▲ 0.06 (0.37%)
DGKC 67.61 Increased By ▲ 0.29 (0.43%)
FCCL 17.82 Increased By ▲ 0.27 (1.54%)
FFBL 25.40 Decreased By ▼ -0.49 (-1.89%)
FFL 9.15 Increased By ▲ 0.01 (0.11%)
GGL 9.79 Increased By ▲ 0.02 (0.2%)
HBL 113.77 Increased By ▲ 1.27 (1.13%)
HUBC 111.61 Decreased By ▼ -3.68 (-3.19%)
HUMNL 6.55 Decreased By ▼ -0.04 (-0.61%)
KEL 4.39 Increased By ▲ 0.17 (4.03%)
KOSM 4.59 Increased By ▲ 1.03 (28.93%)
MLCF 37.73 Increased By ▲ 0.62 (1.67%)
OGDC 125.21 Increased By ▲ 8.81 (7.57%)
PAEL 22.61 Decreased By ▼ -0.10 (-0.44%)
PIAA 11.10 Increased By ▲ 0.31 (2.87%)
PIBTL 6.17 Decreased By ▼ -0.08 (-1.28%)
PPL 109.07 Increased By ▲ 5.07 (4.88%)
PRL 26.84 Increased By ▲ 0.45 (1.71%)
PTC 10.48 Increased By ▲ 0.95 (9.97%)
SEARL 52.85 Increased By ▲ 0.86 (1.65%)
SNGP 66.38 Increased By ▲ 1.26 (1.93%)
SSGC 11.01 Increased By ▲ 0.08 (0.73%)
TELE 7.13 Decreased By ▼ -0.08 (-1.11%)
TPLP 11.93 Decreased By ▼ -0.06 (-0.5%)
TRG 76.07 Decreased By ▼ -0.78 (-1.01%)
UNITY 20.47 Decreased By ▼ -0.02 (-0.1%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,441 Increased By 109.2 (1.72%)
BR30 22,098 Increased By 468.8 (2.17%)
KSE100 62,816 Increased By 901.5 (1.46%)
KSE30 21,134 Increased By 282.7 (1.36%)

DUBAI: Dubai’s Emirates Group on Thursday said financial year 2022-23 had been its most profitable so far, reporting an annual profit of 10.9 billion dirhams ($3 billion) and a group revenue increase of 81% to $33 billion.

Emirates airline, which along with airport services business dnata makes up Emirates Group, made a $2.9 billion profit. The state-owned carrier had posted an annual loss of $1.1 billion for 2021-22, following a $5.5 billion loss the year before that.

The airline had made a “full recovery” since the hit to demand caused by the pandemic, Chairman and Chief Executive Officer Sheikh Ahmed bin Saeed Al Maktoum said.

“As the last travel restrictions lifted and triggered a tide of demand, we were ready to expand our operations quickly,” he said.

Emirates airline said it filled 79.5% of seats flown, up from 58.6% a year earlier, and was now flying to 150 destinations from more than 140 last year.

‘Bring it on’: Emirates airline boss welcomes Saudi competition

The group’s global airport and travel services business dnata made a $90 million profit, representing a 201% year-on-year increase.

Emirates also said it had committed $200 million to a research fund focusing on reducing the impact of fossil fuels in commercial aviation, because hitting net zero emissions targets would not be possible with currently available options.

Emirates Group said it invested $2 billion in new aircraft, facilities, equipment, companies, and technology in 2022-23.

Its order book stands at 200 aircraft, it said.

Sheikh Ahmed said the group expected to remain profitable in 2023-24, “while keeping a close watch on inflation, high fuel prices, and political and economic uncertainty”.

Comments

Comments are closed.