How much did Emirates make in 2019?

Group records 31st consecutive year of profit of AED 2.3 billion (US$ 631 million)

• Strong business growth leading to a record revenue of more than AED 109 billion (US$ 29.8 billion)
• Solid cash balance of AED 22.2 billion (US$ 6.0 billion)
• Declares a dividend of AED 500 million (US$ 136 million) to the Investment Corporation of Dubai.

dnata reports its highest ever profit of AED 1.4 billion (US$ 394 million) for its 2018/19 financial year, which includes gain from a one-time sale transaction of its HRG stake. Revenue grew 10% on the back of business growth and acquisitions, with international businesses now accounting for 70% of revenue

Emirates reports a profit of AED 871 million (US$ 237 million), 69% down from the previous year

• Revenue increases by 6% to AED 97.9 billion (US$ 26.7 billion), supported by steady passenger and cargo performance
• Airline capacity crosses 63 billion ATKM with a net addition of 2 new aircraft to the fleet

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group, announced Emirates and dnata’s 2018/19 financial performance, including the Group’s 31st consecutive year of profit.

What is the profit of Emirates?

dnata makes record profit of AED 1.4 billion (US$ 394 million), which includes AED 321 million (US$ 88 million) gain from one-time sale of HRG stake

• Revenue increases by 10% to AED 14.4 billion (US$ 3.9 billion), reflecting further business expansion with international business now accounting for 70% of revenue
• Expands global footprint with acquisition of Qantas catering in Australia and 121 Inflight catering business in the Americas, adds new facilities and service capabilities across its airport operations, catering, and travel services divisions

• How did Emirates create value for customers?

In 2018-19, the Group collectively invested AED 14.6 billion (US$ 3.9 billion) in new aircraft and equipment, the acquisition of companies, modern facilities, the latest technologies, and staff initiatives, a significant increase over last year’s investment spend of AED 9.0 billion (US$ 2.5 billion).

In February, Emirates announced a commitment for 40 A330-900s and 30 A350-900s worth US$ 21.4 billion at list prices in an agreement signed with Airbus, to be delivered from 2021 and 2024 respectively. The airline will also receive 14 more A380 deliveries from 2019 until the end of 2021, taking its total A380 order book to 123 units.

dnata’s key investments during the year included: the acquisitions of Q Catering and Snap Fresh in Australia, and 121 Inflight Catering in the US; the buy-out of shares to become the owner of Dubai Express, Freightworks LLC; and a 51% majority stakeholder of Bolloré Logistics LLC, UAE; the build of new cargo and pharma handling facilities in Belgium, the US, the UK, the Netherlands, Australia, Singapore and Pakistan; the acquisition of German tour operator Tropo, and a majority stake in BD4travel, a company providing artificial intelligence driven IT solutions in the travel sector.

Across its more than 120 subsidiaries, the Group’s total workforceincreased by 2% to 105,286, representing over 160 different nationalities, mainly influenced by dnata’s new acquisitions and its international business expansion.

Emirates’ total passenger and cargo capacity crossed the 63 billion mark, to 63.3 billion ATKMs at the end of 2018-19, cementing its position as the world’s largest international carrier. The airline moderately increased capacity during the year over 2017-18 by 3%, with a focus on yield improvement.

Emirates received 13 new aircraft during the financial year, comprising of seven A380s and six Boeing 777-300ERs, including the last 777-300ER on its order book. The next 777 delivery is planned for 2020, when Emirates receives its first 777X aircraft.

During 2018-19, Emirates phased out 11 older aircraft, bringing its total fleet count to 270 at the end of March. This fleet roll-over involving 24 aircraft was again one of the largest managed in a year, keeping Emirates’ average fleet age at a youthful 6.1 years.

It reinforces Emirates’ strategy to operate a young and modern fleet, and live up to its “Fly Better” brand promise as modern aircraft are better for the environment, better for operations, and better for customers.

During the year, Emirates launched three new passenger destinations: London Stansted (UK), Santiago (Chile) and Edinburgh (Scotland), and reinstated services to Sabiha Gokcen (Turkey). It also added flight capacity to 14 existing destinations and upgraded capacity to six cities, offering customers more choice of flight timings and onward connections

The full 2018-19 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at:https://www.emirates.com/ae/english/about-us/business-model/financial-transparency.aspx