Emirates reveals impressive financial results

13/05/2013 - Dubai Investment News Posted by Bob Brunskill
Emirates reveals impressive financial results

Emirates Airline has revealed impressive financial results for 2012, with the group clawing in net profits of AED 3.1 billion (£548 million).This is the 25th consecutive year that the company has made a profit and the firm also surpassed the 39 million passenger milestone.The fact that the global economy has remained fragile and fuel prices have risen so sharply in the past 12 months makes Emirates' performance look even more impressive.Profits were 34 per cent higher than last year and the airline also achieved its largest aircraft capacity increase in history, with 34 new vessels being added to the fleet. In addition to this, the business introduced an extra ten routes.Emirates has been responsible for much of the astronomical growth seen at Dubai International Airport in the past few years, as it has created a plethora of new services that enable people from all over the world to travel directly to the UAE.His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, highlighted just how much money the firm has reinvested into its enterprise.Indeed, he confirmed that in 2012/13, AED 13.8 billion had been pumped into new aircrafts, services, products and facilities, which includes the JW Marriott Marquis Hotel in Dubai."Every dirham that we earn is strategically placed back into our business and it is this tenacious approach that has allowed the group to maintain such strong and consistent profitability under challenging circumstances," Mr Al Maktoum remarked."We continue to grow and remain profitable despite the industry norms because we continue to rely on our proven business model and understanding of the marketplace."The firm's strong marketing campaigns and high-profile sponsorship deals have undoubtedly helped it to build a positive reputation around the world.As well as securing a tie-up with Formula One, the carrier also endorses a number of top football clubs, including Arsenal and newly-crowned French champions Paris Saint Germain.