Emirates profits soar

THE Emirates Group recorded its 26th consecutive year of profits in 2013.
The company posted a US$1.1bn profit – 32 per cent up on the previous year.
Its revenue climbed to $23.9bn, 13 per cent higher, despite competitive pressures and the slow global economic recovery.
Cargo’s contribution was impressive, with Emirates SkyCargo for the first time reporting a revenue increase as high as nine per cent, to $3.1bn – but with an accompanying one per cent yield decline.
“Contributing 15 per cent of the airline’s total transport revenue, SkyCargo continues to play an integral role in the company’s expanding operations,” says a statement.
Volumes climbed by eight per cent to 2.3 million tonnes in an otherwise flat and challenging airfreight market, highlighting the UAE carrier’s ability to grow revenues against the industry trend, the statement adds.
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