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Emirates in the driving seat

01 May 2006

Read more: EMIRATES

Another year, another increase in profits for Emirates. The airline announced record net profits of $762 million for the latest financial year, up 5% from the previous year's high of $726 million. Group revenue increased by an impressive $1.4 billion, or 27%, to $6.6 billion compared with $5.2 billion. For 2005/06 Emirates will pay an increased dividend of $105 million to its owner, the Government of Dubai, compared with $100 million last year. These results give Emirates tremendous bargaining power...

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"Airbus and Boeing are in a competitive situation where they are sold out for years. Some of the orders they took will most likely not materialize or will be substantially delayed."

Adam Pilarski, senior vice president, Avitas

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