ExXB
17th Jul 2013, 10:25
We all know that Emirates are profitable. Everyone says they are, but this article (http://gulfnews.com/multimedia/graphics/emirates-sponsorship-across-the-world-of-sport-1.1209838) in Gulf news got me thinking. It says that their sports sponsorships will cost them AED1 billion this year ($272,257,000). (Have a look at the pdf graphic attached to the gulf news article - they seem to be everywhere!)
Does this, frankly staggering, amount come from their profits? Thats about 28% of the Emirates Group's profits for 2012 of AED3.6 (according to the financial reports they publish at Annual Report | Facts & Figures | The Emirates Group (http://www.theemiratesgroup.com/english/facts-figures/annual-report.aspx) . This gives no details of their expenses.)
I also note that it is now being reported that in exchange for Emirates sponsership of the Thames Cable Car, Transport for London has agreed not to deal with Israel and Israeli business. Does the same apply to to FIFA, the US Open, Formula 1, the Ryder cup, Melbourne's Collingwood Football Club, etcetera, etcetera? I thought such clauses were illegal.
Does this, frankly staggering, amount come from their profits? Thats about 28% of the Emirates Group's profits for 2012 of AED3.6 (according to the financial reports they publish at Annual Report | Facts & Figures | The Emirates Group (http://www.theemiratesgroup.com/english/facts-figures/annual-report.aspx) . This gives no details of their expenses.)
I also note that it is now being reported that in exchange for Emirates sponsership of the Thames Cable Car, Transport for London has agreed not to deal with Israel and Israeli business. Does the same apply to to FIFA, the US Open, Formula 1, the Ryder cup, Melbourne's Collingwood Football Club, etcetera, etcetera? I thought such clauses were illegal.