Emirates profits increased 8% in its first semester due to lower fuel prices

Emirates Group made a net profit of 235 million dollars (288.93 million euros) in the middle of its 2019/2020 fiscal year, which ended on September 30, which is 8% more than the previous year, although revenues fell 2%, to 14,500 million dollars (13,092.05 million euros).

Revenue has been affected by the closure of a runway at Dubai International Airport (DXB) for 45 days, unfavorable currency movements and the bankruptcy of Thomas Cook, the company has detailed.

However, in the case of benefits, the increase is explained by the decrease in fuel prices of 9% compared to the same period last year, according to the company.

“Emirates Group has obtained stable and positive results in the first half of 2019-20 thanks to the adaptation of our strategies to navigate the harsh commercial conditions and political-social uncertainty in many markets around the world,” said the president and CEO of the company, Ahmed bin Saeed Al Maktoum.

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As for the Emirates airline, profits increased 282%, to 235 million dollars (212.16 million euros), although revenues decreased 3% to 12.9 billion dollars (11.646.25 million euros ).

The airline’s occupancy factor improved 81.1%, with 29.6 million passengers transported. “The attractiveness of Dubai as a destination remains strong, as the airline has transported 7.9% more customers to its base city compared to the same period last year,” the company explained.

In turn, dnatc revenues increased 5% to 2,000 million dollars (1,805.62 million euros), while profits fell 64% to 85 million dollars (76.74 million euros), as a result of the impact of the bankruptcy of Thomas Cook, in addition to having registered a single transaction last year.