Emirates Group records 30th consecutive year of profit of AED 4.1 billion (US$ 1.1 billion).
Released today in its 2017-18 Annual Report, the Emirates Group posted a profit of AED 4.1 billion (US$ 1.1 billion) for the financial year ended 31 March 2018, up 67% from last year. The Group’s revenue reached AED 102.4 billion (US$ 27.9.billion) for the first time.
Emirates announced two significant commitments for new aircraft during the year: a US$ 15.1 billion agreement for 40 Boeing 787-10 Dreamliners which will be delivered from 2022, and a US$ 16 billion agreement for 36 additional A380 aircraft, including 16 options.
Airline received 17 new aircraft, comprising of eight A380s and nine Boeing 777-300ERs. At the same time, eight older aircraft were phased out, bringing its total fleet count to 268 at the end of March. This fleet roll-over involving 25 aircraft was again one of the largest managed in a year, keeping Emirates’ average fleet age at a youthful 5.7 years.
Emirates’ total passenger and cargo capacity crossed the 61 billion mark, to 61.4 billion and carried a record 58.5 million passengers.
Emirates closed the financial year with a healthy and increased level of AED 20.4 billion (US$ 5.6 billion) of cash assets.