Emirates revenue stable, profits strong in FY2010

Emirates revenue stable - consolidated financial highlights for the 12 months ended 31-Mar-2010:

• Reveue:
  • Emirates: USD11,564 million, stable year-on-year;
    • Transport: USD10.9 million, -0.6%;
      • Excess baggage: USD75.7 million, -20.3%;
    • Sales of goods: 470.2 million, +10.5%;
  • Dnata: USD849.7 million, -1.2%;
    • Airport operations: USD422.9 million, +7.3%;
    • Cargo: USD165.3 million, +13.2%;
• Total operating costs:
  • Emirates: USD10,860 million, -2.7%;
    • Fuel: USD3,242 million, -17.6%;
    • Labour: USD1,727 million, +8.3%;
  • Dnata: USD708.1 million, -4.2%;
• Operating profit:
  • Emirates: USD970.5 million, +56.5%;
  • Dnata: USD152.2 million, +19.7%;
• Net profit:
  • Emirates: USD963.2 million, +415.7%;
  • Dnata: USD166.9 million, +20.9%. [more]
• Overall load factor: 66.8%, +1.7 ppt;
• Overall breakeven load factor: 64.4%, +0.3 ppt;
• Passenger numbers: 27.5 million, +20.8%;
• Seat factor: 78.1%, +2.3 ppts;
  • Premium: -6.2 ppts;
  • Economy: +3.6 ppts;
• Yield per RPK: USD 7.11 cents, -18.7%;
• Cargo volume: 1.6 million tonnes, +12.2%;
• Cargo yield per FTK: -18.9%. [more]

*Based on the conversion rate at USD1 = AED3.6732

Emirates Group: "It has been an exceptional year of continued profitability against a backdrop of the worst global recession in generations. The first half of the financial year however, was extremely challenging as the world continued to grapple with the economic crisis. Our pioneering spirit and ability to adapt in adverse conditions helped us to push through this harsh economic climate with an extremely strong performance in the latter part of the year," Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive. Source: Emirates Group, 12-May-2010.