Emirates announces financial results

Emirates Group has posted its annual report, with profits down 70 per cent to $670 million. The group said that its 29th consecutive year of profit was achieved ‘despite a turbulent year for aviation and travel’. 

Emirates reported a record 56.1 million passengers over the year (up eight per cent) – load factor was 75.1 per cent (down from 76.5 per cent the previous year), although the carrier said that this was ‘relative to the strong 10 per cent increase in seat capacity by Available Seat Kilometres, and also in part due to lingering economic uncertainty and strong competition in many markets’.

The group also said that ‘the relentless rise of the US dollar against currencies in most of Emirates’ key markets had an $572 million impact on airline revenue, and to the airline’s bottom line’. 

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