Emirates More Than Quadruples its First Half Profit to $925 million

EKA380b Emirates has posted its first half results for its 2010-2011 financial year, with an extraordinary leap in profit from $205 million last year to $925 million this year.

The airline reported a 19.4% increase in passenger miles flown, and is now the world's largest international airline (Lufthansa comes a close second).  It increased its fleet capacity by a lesser 13.9%, thereby making for the airline's highest ever first half average load factor – 81.2%.

Cargo was also steeply up, with a 23.7% increase in tonnage carried.

Emirates has the largest order of A380 planes of any airline, and has been unharmed by the controversy currently surrounding the Rolls Royce Trent 900 engines that power A380s for Singapore, Lufthansa and Qantas, because its planes are powered by GP7200 engines from the EA (Engine Alliance consortium) instead.

In related news, Emirates also resumed daily A380 service between New York and its hub at Dubai on Monday.  This will mean the airline now operates 49 flights a week from the airline's four gateways in the US (JFK, IAH, LAX and SFO) to Dubai.

For more information, commentary and reviews on Emirates see :

Review of the Emirates A380

Review of Emirates business class (on a 777)

Analysis of common accusation about Emirates getting an unfair advantage through government subsidy or lower fuel costs

Report on Emirates' full year $1.1 billion profit for 2010

2 thoughts on “Emirates More Than Quadruples its First Half Profit to $925 million”

  1. While I agree EK is a good company I would back off from the greatness tag. Number of points to note –
    I wouldn’t trust thier finanicals – the government there has a way to spin almost anything and that includes thier books. EK isn’t a true public company and no way will the Dubai govt. allow them to post any kind of a loss – it’s always about being the best and number 1 (if you say it enough it must be true!).
    Have you ever ridden on a long haul EK flight in Y? It’s brutal. Yes, the entertainment system is great but the seats are hard as rock, and they add an extra seat in most rows so its very tight (and I am small).
    Yeah, they are a lot better than most US airlines (who isn’t) but they are not what they once were (I have been flying them since thier inception – when they had 3 AC with PIA crew) and they don’t hold a candle compared to most Asian carriers.
    Finally, I am sure they do make money – it’s a lot easier to do when you have a very low cost wage structure like EK do. Cabin staff turnover of probably 90% every 3 years keeps that down and migrant workers at thier hub make next to nothing and they do most of the work.
    I enjoy your newsletter – just wish you would back off a little with the the fawning over EK.
    Thanks
    Mark

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