Not All Doom & Gloom, EK Profits Increase By 165%
Posted:
05 Nov 2009, 23:28by Denzil
Emirates today announced a 165% increase in net profits over the same period last year.
http://www.emirates.com/uk/english/abou ... 8&offset=0
Posted:
06 Nov 2009, 02:33by MarkedMan
Shock, horror, product investment leads to increased profitability! What will british carriers make of this???
Posted:
06 Nov 2009, 07:35by slinky09
Erm load factor down, revenue down, cargo flat ... the only reason profit up was because capital investment was down more than revenue (their words) ... nice spin on one measure, but even EK is suffering.
Posted:
06 Nov 2009, 22:39by MarkedMan
Awww, spoilsport [:)]
It would be outlandish to assume they aren't suffering somewhat. Still, their lower expenditures are attributed to cost containment and lower fuel prices. It's not as if everyone isn't in the cost containment game, and fuel prices were lower for all. Seems something is going right for them. In the end, their cash position deteriorated slightly due to, among other things, interior cabin refurbishment and general product investment. So while product investment may not have lead to the profitability (tongue in cheek as that suggestion was), we can safely say it did not hinder it. At the very least this should take the sting out of the argument that one shouldn't fund improvements when times are tough ....