And the EK Profit Share is... and Emirates Profits Merged
I saw that. Not looking good for the bonus as we needed $1.35billion for 2 weeks. Good to see the corp PR people didn't release the news too early.
The Don
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I'd like to see the books on that one to see how much was paid out to service Dubai's debt. I know we actually made much more than that. They were over 1 billion at halfway through the fiscal year. Glad to know we are financing their mistakes.
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Here is the article from November stating $925 million in the first six months. So are they saying we only made $575 million in the stronger half of the year? That profits dropped almost 50% in the second half of the year?
Emirates Airline's Profit Soars - WSJ.com
Emirates Airline's Profit Soars - WSJ.com
short flights long nights
Just thinking the same thing
Good point Cav....guess we find out soon. I read in the Gulf business that EK paid off a $500million bond in March.
Keep recovering
The Don
Keep recovering
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half year comparisons
Quick summary of group results in usd billions
1st 6m 2nd 6m Full year
revenue 7.2 8.4 15.6
net profit 0.925 0.675 1.6
margin 12.8% 8% 10.3%
cash reserves increase 0.529 1.0
pax 15.5m 15.9m 31.4m
Profit Margin down but cash reserves up implies big provisions or write offs in second half of year...or there were some adjustments to first half numbers - I am using the half year numbers published on 1/11/2010.
Done in a hurry so happy for anyone to check my maths !
1st 6m 2nd 6m Full year
revenue 7.2 8.4 15.6
net profit 0.925 0.675 1.6
margin 12.8% 8% 10.3%
cash reserves increase 0.529 1.0
pax 15.5m 15.9m 31.4m
Profit Margin down but cash reserves up implies big provisions or write offs in second half of year...or there were some adjustments to first half numbers - I am using the half year numbers published on 1/11/2010.
Done in a hurry so happy for anyone to check my maths !
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2 billion dirhams handout to Dubai - or as it was quietly mentioned on the sidelines, 'dividends to its shareholder'. Reported by Gulf News.
Based on last years results we'd be lucky to get 10w
Based on last years results we'd be lucky to get 10w