DUBAI - Emirates Airline has reported an almost 300% rise in half-year net profits, mainly thanks to a drop in operation costs and fuel prices.
The Dubai carrier said it posted a net profit of US$235 million in the first six months of the fiscal year compared to just US$62 million in the same period last year.
“This result was driven by increased agility in capacity deployment, with healthy customer demand for Emirates’ products driving improved seat load factors and better margins,” the group said.
Revenue for the period was down, however, declining 3% at the airline and 2% at the group. The lower revenue was primarily the result of planned capacity reductions during the 45-day southern runway closure at Dubai International Airport, and unfavourable currency movements in Europe, Australia, South Africa, India and Pakistan, the group said.