Group records 29th consecutive year of profit of AED 2.5 billion (US$ 670 million)
o Steady business growth in line with capacity increases, results show business resilience in a competitive climate and turbulent year
o Significant investment in the business at AED 13.7 billion (US$ 3.7 billion)
Emirates reports a profit of AED 1.3 billion (US$ 340 million)
o Airline capacity crosses 60 billion ATKM. 35 new aircraft delivered, and 27 older aircraft retired during the year
o Stable revenue at AED 85.1 billion (US$ 23.2 billion), after a AED 2.1 billion (US$ 572 million) hit due to unfavourable currency exchange
dnata makes highest profit ever, at AED 1.2 billion (US$ 330 million)
o Record revenue of AED 12.2 billion (US$ 3.3 billion) reflects further business expansion, with international business now accounting for 66% of revenue
o Expands global footprint with ground handling acquisitions in the Americas, adds new facilities and service capabilities across its airport, cargo, catering, and travel services divisions
DUBAI, UAE, 11 May 2017 – The Emirates Group today announced its 29th consecutive year of profit and steady business expansion, despite a turbulent year for aviation and travel.
Released today in its 2016-17 Annual Report, the Emirates Group posted an AED 2.5 billion (US$ 670 million) profit for the financial year ending 31 March 2017, down 70% from last year’s record profit. The Group’s revenue reached AED 94.7 billion (US$ 25.8 billion), an increase of 2% over last year’s results, and the Group’s cash balance decreased by 19% to AED 19.1 billion (US$ 5.2 billion) mainly due to the repayment of two bonds on maturity and ongoing high investments into its fleet and aircraft related assets.