Dubai-based Emirates will announce its year-end results in April and is expected to declare record earnings for the second-half of the financial year. For the period between April and September, the airline said passenger traffic had grown 19.4 per cent compared to the same period in 2009. Earnings in the first-half totalled $925 million and analysts see no reason why year-end results should not hit at least $2 billion.
Although the carrier’s president, Tim Clark, said business travel had been damaged to and from the regions which have recently experienced social and political upheaval, the Centre for Asia Pacific Aviation predicted that overall such events were unlikely to seriously dent the demand for international air travel.
Peter Harbison, the centre’s executive director went on to say that the second half of the year had been stronger than the first and that Emirates should at least double its results.
Although he did not go into any details, the airline’s Australasian and Far East commercial operations senior VP, Richard Jewsbury, confirmed that the first-half of the year had yielded good results and that the second-half was likely to be even stronger.
The Royal Bank of Scotland recently issued a research note in which it predicted that Emirates would concentrate on growing traffic to Africa, China, India and the Middle East. By the end of the decade the airline will have a fleet of around 250 aircraft and will add approximately 46 new destinations to its roster in territories across Asia and the US.