Emirates airline reveals 21% increase in profit, on 'healthy demand' and lower fuel prices - Arabianbusiness

Emirates airline reveals 21% increase in profit, on 'healthy demand' and lower fuel prices - Arabianbusiness:

Emirates airline reported an annual profit of AED 1.1 billion ($288 million), up 21% from the previous year, in its results announced today.

The sharp increase in profit was due to "healthy demand", particularly in the second and third quarters of the year and "lower average fuel prices over the year" according to Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group

The airline said its revenue declined by 6% to AED 92bn ($25.1bn), impacted by Dubai International’s airport’s planned runway closure for 45 days last year, and the temporary suspension of passenger flights in March due to Covid-19. ower fuel cost compared to previous year. 



Emirates Group, which includes airport services firm Dnata, reported a profit of AED1.7 billion ($456m). Emirates Group said it ended the year with a cash balance of AED25.6 billion ($7bn).