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Emirates and Etihad Airways on a high


The year is looking like a good one for airlines in the UAE, led by strong performances at Emirates and Etihad Airways. Despite the uncertainty surrounding the civil unrest in the Middle East and North Africa, airlines in the country are expanding relentlessly and, just as importantly, profitably. Emirates has reported a year of record profit, while Etihad recently declared its first quarterly operating profit in 1Q2011. [1779 words]

Unlock the following content in this report:


  • Another year of record profit for Emirates
  • Resuming the growth trajectory
  • Yields still building
  • Controlling cost growth
  • Where to grow?
  • No acquisitions, no IPO
  • Etihad Airways targets 2011 break-even
  • More growth to come in the UAE

Graphs and data:

  • UAE scheduled carriers fleet and orders
  • Emirates net profit & net margin: FY2001-02 to FY2010-11
  • Emirates and peer group carriers net margins for 12 months ended 31-Dec-2010 (unless stated otherwise)
  • Emirates revenue (AED millions): 2001-02 to 2010-11
  • Emirates fleet size and destinations (financial year end): FY2001-02 to FY2010-11
  • Emirates passenger yield in fils per RPK
  • Emirates unit costs (including & excluding fuel): Fils per ATKM
  • Emirates' labour costs vs operating costs
  • Emirates FY2010-11 revenue breakdown by region
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