Emirates revenue up 36%, operating profit jumps 23% in 1HFY2011

Emirates revenue up 35.5% - financial highlights for the six months ended 30-Sep-2010:

• Revenue*: USD7,188 million, +35.5% year-on-year;
• Emirates SkyCargo: USD1,198 million, +48.4%;
• Operating costs: USD6,262 million, +22.6%;
• Net profit: USD925.7 million, +351%;
• Passenger numbers: 15.5 million, +17.3%;
• Seat factor: 81.2%, highest ever for a first six month reporting period;
• Premium: n/a, +2.6 ppts;
• Cargo volume: 897,000 tonnes, +23.7%;
• Cash: USD3,403 million, +18.5% when compared with the period ended 31-Mar-2010. [more]

*Based on the conversion rate at USD1 = AED3.6727

Emirates: "We continue to invest our profits in growing the business and our healthy financial position enables us to successfully meet all of our financial commitments and raise financing for future aircraft deliveries. Our strong position today is reflective of our ability to adapt, returning us to a vigorous period of growth. With 62 new state-of-the-art aircraft ordered in the first half, we remain well positioned to capitalise on this growth," Sheikh Ahmed bin Saeed Al-Maktoum, Chairman and CEO. Source: Emirates, 01-Nov-2010.