The Annual Emirates Report Is Out And Profits Have Plummeted 82%

The annual Emirates report is out, and the airline has reported an 82% drop in annual profits for 2016/2017 year – down to AED1.3 billion. 

The airline, which has reported 29 consecutive years of profit, links the drop to the lower oil prices globally, along with difficult US airline policies, the UK’s vote to exit the European Union, and the rise of the US dollar.

The airline carried 56.1 million passengers – a record breaking number with several new aircraft on order 

And capacity of the airline increased by 7%. 

However passengers on flights – passenger seat factor – dropped 75.1%.

Meanwhile Dnata hit its highest earnings ever

Making AED1.2 billion – the highest revenue for its 58 years of operating. 

You can see the report in its entirety here.