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Emirates reports FY2010/11 results
10 May 2011
The Dubai based airline ended its financial year with a net profit of AED 5.4 billion ($1.5 billion).
Emirates posted FY/2010-11 results with net profit increase to AED 5.4 billion ($1.5 billion). Total profit for Emirates Group, including its subsidiaries, amounted to AED 5.9 billion, while total revenue was AED 57.4 billion.
"With political instability across parts of the world coming to the fore in the second half of the year, Emirates was able to swiftly adjust flight schedules, redeploying aircraft to balance the network and optimise revenue," says Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO, Emirates Airline and Group.
He adds that revenue cushioned the airline's profits despite a 25.6% increase in average fuel cost per gallon compared with the previous year's results.
"This year's record results represent our drive to push the boundaries of aviation, questioning the norms and advocating for open and fair competition."
During FY2010/11 Emirates placed orders for $13.4 billion worth of aircraft, comprising of: 32 Airbus A380s and 30 Boeing 777-300ERs. To read more, click here.
The company has orders for a total of 193 new aircraft worth $66 billion at list prices.