Emirates staff are getting a bonus worth 20 weeks’ pay after the airline posted record annual profits.
The group’s 131,000 staff are in line for the payout, which follows similar level bonuses in the past three years.
Although the final month of the financial year was severely disrupted following the US/Israel attack on Iran, Emirates’ profit before tax rose 7% to AED22.8 billion (10.4b) in the year to 31 Mar.
Passenger revenue reached a record AED106.4b, up 3% year-on-year and yield was up 4%, reflecting what EK says in its annual report is its continued ability ‘to command a premium in the marketplace’.
“Despite an extremely challenging Mar before our financial year ended, Emirates retains its place as the world’s most profitable airline,” EK Group chairman Sheikh Ahmed bin Saeed Al Maktoum says.
EK has continued operating throughout much of the conflict, although total capacity dropped to 58% during Mar.
It has since rebuilt its network and was at 96% capacity last weekend. Fuel remains EK’s single biggest variable cost, representing 29% of operating costs.
The carrier has worked with suppliers to secure the volumes required to support current operations and scaling up to pre-disruption levels, says Sheikh Ahmed.
“Across the group (including dnata), our business streams, scale, portfolio mix, and years of investments give us the resilience and agility to address any near-term challenges.”
