And the EK Profit Share is... and Emirates Profits Merged
 

Emirates posts 51.9% surge in annual profits, to $1.5 Billion.

I hope they reward you accordingly.........

Emirates profit announced
 

Breaking news on Sky. Emirates profit up 51.9% to $1.5 billion.

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

Is that the profit for the Airline, or the entire EK Group?

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.

Good point. Let's hope it's just the airline and the rest of the group have made shed loads!!

Is this after the money they have injected into the Dubai economy, the new terminal builders, paying off the bonds, etc?

Let's hope so......

2nd half of the year has always been traditionally stronger than the 1st.

Someone has been in the kitchen cooking those books!!

Cav.

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

Now its getting worrying!!! :mad:

Just thinking the same thing:rolleyes:

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

Don, you're right, and there's the missing $500 mil

Gulf News reporting the profit is for the whole group not just the airline - someone has indeed done plenty of cooking....and it stinks.

Not to mention the $$$ taken for Concourse 3. :ugh:

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 !

Annual report:2010/2011

EK profit share scheme 2011-aed 770million compared to 2010-aed 175million.

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
:mad:

Gulf news in reporting that EK has paid its major stakeholder, the Dubai Govt. 2 billion dirhams in dividend !

What?

A profitable business paying a dividend to it's owner?

That's not a normal business practice, is it?:rolleyes: