Emirates reported strong profit growth for the first half of the year. AFP
Emirates reported strong profit growth for the first half of the year. AFP

Emirates reports profit increase of 65 per cent as passenger demand grows



Lower fuel prices and higher passenger demand helped to boost Dubai’s flagship carrier Emirates, which posted a 65 per cent jump in first half net profit.

The airline, one of the world’s largest carriers of international passengers, reported a profit of Dh3.1 billion for the six months ending September 30, up from Dh1.9bn a year earlier.

Emirates, which operates the world’s biggest fleet of the Airbus A380 superjumbo aircraft, said first-half revenue was down 4.2 per cent to Dh42.3bn, compared to Dh44.2bn a year earlier.

“Our top-line figures were hit hard by the strong US dollar against other major currencies,” said the Emirates chairman Sheikh Ahmed bin Saeed Al Maktoum.

He added that the currency exchange situation, together with the current regional conflict and a weak economic outlook, had plagued the positive effect of lower fuel prices during the first half of the financial year.

Fuel, the largest component of an airline’s cost, made up 28 per cent of Emirates’ operating cost, as opposed to 38 per cent during the same period a year ago.

“We made a calculated decision not to hedge our fuel purchases, which paid off as fuel prices continued to soften,” said Sheikh Ahmed.

The airline also made a decision to pass on savings from the lower fuel costs to its customers by reducing its air fares – helping Emirates to carry 25.7 million passengers between April 1 and September 30, an increase of 10 per cent on the same period last year.

Emirates also expanded its global route network by launching services to four new destinations – Bali, Indonesia; Multan, Pakistan; Orlando, Florida; and Mashhad, Iran.

“Despite the fall in revenues, this first-half performance by Emirates is fantastic,” said Saj Ahmad, the chief analyst at StrategicAero Research. “Especially given the regional turmoil around the GCC, in particular the decision to stop and then recommence flights in Iraq, as well as the humanitarian fallout from the woes seen in Syria and Yemen.”

During the first six months of the financial year Emirates received 13 wide-body aircraft – eight A380s, and five Boeing 777s. It also took out of service four older aircraft, resulting in a net increase of nine new aircraft for its fleet.

Revenue for the wider Emirates Group, which includes the airline services arm dnata, was down 2.3 per cent to Dh46.1bn, while profit was up 65 per cent at Dh3.7bn.

Separately, the International Air Travel Association revealed yesterday that Middle East airlines had a 9.9 per cent demand increase in September, down from 13.7 per cent year-on-year growth in August.

The industry body warned that major economies in the region, including Saudi Arabia and the UAE, have experienced slowdowns in non-oil sectors. Nevertheless growth rates are still robust, it said.

selgazzar@thenational.ae

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Emergency

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Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Employment lawyer Meriel Schindler of Withers Worldwide shares her tips on achieving equal pay
 
Do your homework
Make sure that you are being offered a fair salary. There is lots of industry data available, and you can always talk to people who have come out of the organisation. Where I see people coming a cropper is where they haven’t done their homework.
 
Don’t be afraid to negotiate

It’s quite standard to negotiate if you think an offer is on the low side. The job is unlikely to be withdrawn if you ask for money, and if that did happen I’d question whether you want to work for an employer who is so hypersensitive.
 
Know your worth
Women tend to be a bit more reticent to talk about their achievements. In my experience they need to have more confidence in their own abilities – men will big up what they’ve done to get a pay rise, and to compete women need to turn up the volume.
 
Work together
If you suspect men in your organisation are being paid more, look your boss in the eye and say, “I want you to assure me that I’m paid equivalent to my peers”. If you’re not getting a straight answer, talk to your peer group and consider taking direct action to fix inequality.

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Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

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Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

No more lice

Defining head lice

Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.

Identifying lice

Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.

Treating lice at home

Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.

Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Specs

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