Emirates

Emirates posts 26th year of profits, up 43%

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In a tale of contrasting fortunes with much of the industry, Emirates Airline reported a 43 per cent jump in 2013 net profit helped by higher revenue and lower fuel costs. The Dubai-based carrier posted a profit of AED3.3 billion (US$898.4 million) for the year to March 31 up from AED2.3 billion a year earlier. Revenue grew 13 per cent at both the airline and group level, to AED82.6 billion and Dhs87.8 billion, respectively. “It’s been a good year. There was growth in our … [Read more...] about Emirates posts 26th year of profits, up 43%

More carriers likely to go bust: Emirates

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Emirates president Tim Clark has said more international carriers will go bankrupt this year as fuel costs and sluggish economies undermine profitability. “We can reel off a whole load of airlines that are teetering on the brink or are really gone,” Clark said in an interview with Bloomberg. “Roll this forward to Christmas, another eight or nine months, and we’re going to see this industry in serious trouble.” Airline profits will plunge 62 per cent in 2012 to … [Read more...] about More carriers likely to go bust: Emirates

Emirates adds another 30 B777-300ERs

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Dubai-based Emirates placed an order with Boeing for an additional 30 B777-300ER aircraft, worth approximately US$9.1 billion at list prices. The new order adds to the fleet of 71 777-300ERs previously ordered, of which 53 aircraft are currently in service. The aircraft offers an additional cargo payload of 20.1 tonnes. “Emirates is today one of the world’s leading airlines thanks in part to the 777. Its ambitious expansion plans have established itself as a global force in the … [Read more...] about Emirates adds another 30 B777-300ERs

Emirates, DHL form security partnership

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Emirates and DHL have signed a Memorandum of Understanding (MOU) to establish a strategic security partnership to enhance air cargo security in the region. Through this partnership, Emirates Group Security and DHL Express will strengthen their collaboration in air cargo security, share best practices and information on security threats, and promote joint training and educational activities. The MOU will enable Emirates Group Security and DHL Express to work more closely together in areas of … [Read more...] about Emirates, DHL form security partnership

The ‘Pride of Africa’ is set to shine brighter

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“Aviation is not ready for party time,” according to Bram Steller. The Dutch national who joined Kenya Airways (KQ) in August 2008 as chief operating officer knows what he is talking about. Barely four months ago – in June – KQ reported a loss of KES5.66 billion (US$71.8 million) in the year ended March 2009, a result of fuel hedging costs, a labour strike and political unrest, after a revised pre-tax profit of KES6.52 billion a year earlier. For the carrier … [Read more...] about The ‘Pride of Africa’ is set to shine brighter

Garuda latest to be fingered for price fixing

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As part of the on-going global investigation into price fixing within the air cargo industry, Australia’s consumer watchdog has this week started proceedings against Garuda, accusing the Indonesian carrier of participating in a global cargo fuel surcharge cartel. The Australian Competition and Consumer Commission (ACCC) earlier initiated proceedings against Singapore Airlines Cargo in December 2008, Cathay Pacific Airways in April of this year and Emirates in August. The three have … [Read more...] about Garuda latest to be fingered for price fixing