Emirates 1HFY2010 profit up 164.8%, on revenue reduction of 13.5%, costs 15.8% lower

Emirates Airline revenue down 13.5% - financial results for the six months ended 30-Sep-2009:

• Total revenue: USD5.4 million, -13.5% year-on-year;
• Total costs: USD5.2 million, -15.8%;
• Net profit: USD204.9 million, +164.8%;
• Passenger traffic (RPMs): +21%;
• Passenger load factor: 77.5%, -0.8 ppt. [more]

*Based on the conversion rate at USD1 = AED3.67

Emirates: "While some say the green shoots of economy recovery are sprouting, we expect it will take at least another year or two, before demand for air transport and travel services starts picking up again. In the meantime, Emirates is well-placed to weather the rest of the storm. We will continue to chart our course with long-term goals in mind while staying flexible to maximise opportunities and mitigate risks," Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and Chief Executive. Source: Emirates, 05-Nov-2009.