It has been a demanding six months but Emirates Group chair and ceo Sheikh Ahmed bin Saeed Al Maktoum says its approaching the H2 with measured optimism.
Despite the unprecedented regional challenges and high fuel prices, the EK Group delivered a profit before tax of AED4.1 billion for the six months under review. Customer demand held firm and cargo operations made a strong contribution, keeping revenue and cash levels healthy even as global jet fuel prices doubled against the same period last year, impacting costs and profitability, EK adds.
. . . Govt Key
In announcing the results Al Maktoum has thanked the UAE government for its ‘decisive response and its co-ordination of all stakeholders to enable the safe resumption of air transport in the aftermath of military activity across the Gulf region’. “The government’s measures have also led to the easing of travel advisories to and through the UAE. This has allowed us to restore our operations with confidence and to keep serving our customers and communities.”
Despite the operating landscape he says the group has not paused its investments. “Emirates and dnata continue to commit significant resources to expand our fleet, enhance our products and services, and develop capabilities that will shape the future of our business.
This is how we stay ahead and stay resilient to external challenges.”
. . . Outlook
“While keeping a close watch on costs and geopolitical developments, we remain focused on delivering what Emirates and dnata are known for, safety, quality, and customer satisfaction,” says the EK group chair.
“We’ve weathered challenges before, and with our strong cash position and solid foundation built up over the years, the Group is well-placed to navigate the headwinds of volatility and high fuel prices.”
Intermittent airspace restrictions and closures across the Middle East tested EK’s operational agility, while government travel advisories reshaped travel flows. However, during this period EK says it focused on restoring its network and connectivity options through its Dubai hub. As at 30 Sep, the carrier was operating 91% of its pre-disruption network.
EK also launched an industry-first travel cover that is unrestricted by government travel advisories and free date changes on booked tickets.
In addition it has rolled out product upgrades and opened new lounges.
