The Emirates Group saw revenue decline in the first six months of the 2015/6 financial year recording US$ 12.6 billion, down 2.3% from US$ 12.9 billion during the same period last year and reflecting the impact of the strong US dollar against major currencies.
The Group marked one of its best half-year profit performances ever, with net profit rising to US$ 1.0 billion, up 65% over the last year’s results.
His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group, said: “Our top-line figures were hit hard by the strong US dollar against other major currencies. The currency exchange situation, combined with ongoing regional conflict and weak economic outlook in many parts of the world, dampened the positive impact of lower fuel prices during the first half of our 2015-16 financial year. Emirates also made the decision to pass on savings from the lower fuel prices to our customers by cancelling passenger fuel surcharges, and lowering fares across the network.”
