Emirates Posts New Record Profits

The Emirates Group today reported its 20th consecutive year of net profit, notching a new profit record despite soaring oil prices and challenging business conditions in the second half of its 2007-08 fiscal year.

During 2007-08, Dnata continued to expand its international ground handling operations, investing in ground handling businesses in Switzerland, Australia and China, to bring its reach to 17 airports in seven countries. It opened FreightGate-5 in Dubai Airport Freezone to handle premium freight, and also saw operations at Dubai Terminal 2 increased with the opening of a 37,000 square foot extension that will serve 700 more flights per week and an annual throughput of approximately 5 million passengers.

Through investments in staff, technology and marketing, Dnata Travel Services continued to win new retail and corporate customers to report revenue growth of 26 percent. It expanded its retail presence across the UAE with seven new outlets including a one-stop travel shop in Abu Dhabi, extended its successful Holiday Lounge concept to new locations across Dubai, signed new GSA representation contracts, and broadened its portfolio of travel products services with innovative new offerings such as Camel Polo by Gulf Ventures.

In all, the Emirates Group’s Facilities/Projects Management department commissioned and opened US$ 578 million worth of new buildings during 2007-08, including the impressive new Emirates Group Headquarters, the Engineering Centre, Dnata Cargo’s Free Zone Logistics Centre, The Harbour Hotel & Residence, and a new crew training college. Projects currently in progress total US$ 1.1 billion, including new buildings in Dubai such as the Destination & Leisure Management Annexe, Emirates Call Centre and staff accommodation at Ras Al Khor, Al Majan and Media City.

As of March 31st, 2008, the Group employed 35,286 staff, representing 145 different nationalities. During the year, the Group hired more than 7,000 people including some 2,000 cabin crew and 400 new flight deck crew.

For the full Report and Accounts, visit: www.ekgroup.com

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