Thaindian News

Dubai, May 10 (IANS/WAM) Emirates Airline’s revenues grew by 25 percent to 54.4 billion dirhams (about $14 billion) in 2010-2011, while profits soared to 5.4 billion dirhams ($1.5 billion) — up 51.9 percent — compared to 3.5 billion dirhams ($964 million) in the previous fiscal year, the company announced Tuesday.

Passenger seat factor, at 80 percent, indicates the airline’s highest ever, a remarkable achievement given a substantial increase in seat capacity of 13 percent. Overall capacity, measured in ATKM (Available Tonne Kilometres), rose 12.4 percent to 32,057 million tonne-kilometres.

Operating costs, at 48.9 billion dirhams, were 22.7 percent higher than the 2009-10 financial year. This increase correlates with the rise in fuel prices and increased activity levels in addition to an overall growth in staff numbers and a rise in direct operating costs such as handling, in-flight costs and aircraft maintenance.

A sharp increase of 41.2 percent in the cost of fuel during 2010-11 at 16.8 billion dirhams, accounted for 34.4 percent of the airline’s total operating costs, close to the record highs witnessed in 2008-09. This increase is a direct result of the 26.5 percent hike in average fuel costs per US gallon, as well as higher overall consumption due to increased capacity, the airline said.

Emirates SkyCargo saw a strong increase in revenue up 27.6 percent to a record 8.8 billion dirhams, thanks to a worldwide rebound in cargo traffic. Cargo tonnage increased by 11.8 percent over the previous year to 1,767 thousand tonnes. Additionally freight yield per FTKM (Freight Tonne Kilometre) increased by 11.3 percent.

Emirates Airline’s Destination and Leisure Management division saw package sales of 1.1 billion dirhams throughout the financial year, an increase of 10 percent on last year’s figures.

–IANS/WAM
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