Emirates Airlines had a net profit of about £50 million during the first half of the financial year, ending September 30^th. This result is 88% less than their nearly £418 million in net profits during the same period last financial year, which shows the impact of this year’s record high fuel prices. The fuel bill of the airline doubled to about £1.6 billion during that time, which is around £301 million more than what they had anticipated. The company also reported that operating revenue increased 31% to £3.9 million.

HH Sheikh Ahmed bin Saeed Al-Maktoum, the Chief Executive and Chairman of Emirates Airlines and Group, said that the first 6 months of the year was very tough for the aviation industry due to the record price of fuel making many airlines consolidate or shut down. Emirates Airlines has worked hard in order to manage the high fuel prices’ impact on their unit costs while continuing to expand the business, as well as provide their customers with quality service and products, he continued.

He also said that they have made huge investments in their eco-efficient plane fleet, new world class terminal, in strengthening the carrier’s global route network, as well as in the infrastructure supporting the expanding business. Recent occurrences show that only the businesses who are most efficient are going to prosper and survive, Sheikh Ahmed continued, and Emirates Airlines’ investments put them in a strong position for weathering current and future challenges. He also added that their fundamentals are solid, and they expect to have a robust second half if there are not anymore fall-outs from the worldwide financial situation.

Go to www.emirates.com to learn more about Emirates Airlines.