Half year net profits of Emirates cross 4 billion dirhams   

The Emirates Group on Wednesday reported a 2022-23 half-year net profit of Dh4.2 billion (US$ 1.2 billion), a record half-year performance.

It is a remarkable turnaround of almost Dh10 billion from its Dh5.7 billion (US$ 1.6 billion) loss for the same period last year.

The Group also reported an EBITDA of Dh15.3 billion, as compared to Dh5.6 billion during the same period last year, illustrating its strong operating profitability.

Group revenue was Dh56.3 billion for the first six months of 2022-23, up 128% from Dh24.7 billion last year. This was driven by the strong demand for air transport across the world with the further easing and removal of pandemic-related travel restrictions.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: "The Group’s record performance for the first six months of 2022-23 is the result of forward planning, agile business response, and the efforts of our talented and committed workforce.

"Across the Group, our operations recovery accelerated as more countries eased and removed travel restrictions. We were ready and amongst the first movers to serve the strong customer demand thanks to our robust business plans, the support of our industry partners, and our ongoing investments in people, technology, and products and services.

"For the coming months, we remain focussed on restoring our operations to pre-pandemic levels and recruiting the right skills for our current and future requirements. We expect customer demand across our business divisions to remain strong in H2 2022-23."

In line with increased capacity and business activities, the Emirates Group’s employee base, compared to 31 March 2022, grew 10% to an overall count of 93,893 at 30 September 2022.  

Source: khaleejtimes.com