Dubai-Mubasher: Dubai's Emirates airline posted a 65% surge in net profits of AED 3.1 billion ($849 million) year-on-year in the first half of the fiscal year 2015/2016, according to a statement on Thursday.
Emirates received 13 wide-body aircraft – eight A380s, and five Boeing 777s during the same period. It also retired four older aircraft, resulting in a net increase of nine new aircraft for its fleet.
Emirates also expanded its global route network by offering services to four new destinations - Bali, Multan, Orlando, and Mashhad.
The airline’s performance reflects the effect of lower fuel prices, and also the continued ability to grow passenger demand despite external challenges such as continued regional unstability and economic malaise in many regions worldwide.
Fuel prices were 41% lower on average compared to the same period of 2014. Fuel remained the largest component of the airline's cost, representing 28% of operating costs compared with 38% in the first six months of 2014.
Emirates revenue, including other operating income, reached AED 42.3 billion ($11.5 billion), 4% from AED 44.2 billion ($12.0 billion) recorded last year.
