Emirates Post Record 23 Year Profit Streak
Middle East holidays and business airline Emirates revealed record profits today, with "challenges" met to deliver a massive $1.6 billion after taxes.
The sum represented the 23rd year in a row that the carrier, which specialises in business and cheap flights to Dubai, Egypt and other destinations in the region, has made a profit. The Emirates Group declared that it would keep on with its mission to "push the boundaries of aviation, questioning the norms and advocating for open and fair competition."
Chairman and chief executive His Highness Sheikh Ahmed bin Saeed Al Maktoum said: "Despite unforeseen challenges in the form of political instability and shocking natural disasters we have managed, through sheer determination, nimbleness and quick thinking, to produce our best ever result."
The results showed a 26.4 per cent increase in the group's overall revenue to $15.6 billion, while revenue from cheap flights to the Middle East alone rose by 25 per cent to $14.8 billion. All in all, the total profits represented a 51.9 per cent increase compared to the group's results in 2009-10.
Emirates also boasted of having weathered last year's increase in world oil prices – and also announced that as a result of prices now dropping, it will be removing its fuel surcharge on ticket prices. This will potentially make more cheap flights available to British citizens taking Middle East holidays this year, especially as it will put rival carriers under pressure to lift their own surcharges.
Emirates Airlines president Tim Clark was quoted in saying: "We promised our customers from the outset that we would eliminate the surcharge as soon as it was commercially viable and this has now been done. We continue to closely monitor the situation."
General Travel News posted by 
on 10 May 2011
Middle East holidays, cheap flights, cheap flights, cheap flights to Dubai
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