{"id":74825,"date":"2023-11-13T00:00:00","date_gmt":"2023-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/emirates-group-posts-record-bottomline-in-1h-2023-2024\/"},"modified":"2023-11-13T00:00:00","modified_gmt":"2023-11-13T00:00:00","slug":"emirates-group-posts-record-bottomline-in-1h-2023-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/13\/emirates-group-posts-record-bottomline-in-1h-2023-2024\/","title":{"rendered":"Emirates Group posts record bottomline in 1H 2023-2024"},"content":{"rendered":"

Emirates group sets a new record for 1H 2023-2024: <\/strong>Emirates Group<\/a> recorded an all-time high six-month bottomline of AED 10.1 bn in 1H 2023-2024, up 138% y-o-y, according to its earnings release<\/a>. Topline figures for the same period also jumped 19.5% y-o-y to AED 20.6 bn on the back of increased global demand for air transport. The company\u2019s financial year begins in April. <\/p>\n

Driving growth during 1H: <\/strong>The company boosted connectivity for customers by entering codeshare and interline agreements with eight airlines in 1H 2023-2024. Capacity during the period also increased 25% y-o-y to 28.5 bn available tonne km (ATKM) due to the increased flights, and passenger traffic rose 35% y-o-y. Its cargo subsidiary, Emirates Skycargo, handled some 1 mn tonnes of cargo during 1H 2023, an 11% y-o-y increase. <\/p>\n

Looking ahead: <\/strong>The company expects strong customer demand to persist across business divisions, though it cites headwinds like rising fuel prices, strengthening of the USD, inflationary costs, and geo-politics, as potential risks, Chairman and CEO Sheikh Ahmed bin Saeed Al <\/p>\n

Maktoum bin Saeed added.<\/p>\n

ALSO-<\/strong>Emirates cargo and ground handling subsidiary <\/strong>Dnata<\/a><\/strong>recorded a bottomlin<\/strong>e of AED 709 mn in 1H 2023-2024, up 200% y-o-y<\/strong>, as it ramped up operations in cargo, ground handling, catering and retail and travel service businesses, according to the earnings release. The number of aircraft turns handled by dnata increased 11% y-o-y to 384k, while the volume of cargo handled fell 5% y-o-y to 1.3 mn tonnes of cargo, reflecting the continued softening of the global air freight market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The aviation firm saw its net income hit a record high in 1H 2023-2034<\/p>\n","protected":false},"author":1,"featured_media":74826,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[145,174,17,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-aviation","tag-earnings-watch","tag-enterprise-logistics","tag-uae","wpautop","entry"],"acf":{"mongo_id":"7c71726b-079c-49eb-bfdd-9109d80595fb","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/498.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emirates Group posts record bottomline in 1H 2023-2024","related_issue":[74811],"teaser":"The aviation firm saw its net income hit a record high in 1H 2023-2034","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.51f29798-5f7e-4544-9a66-ae65a46f1529.mp3"},"yoast_head":"\nEmirates Group posts record bottomline in 1H 2023-2024 - 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