When will Emirates financial results be announced?
 

Hello Folks!

As the title says, is it late now for the announcement? usually the announcement is made within the first week of May. some rumors say the announcement will be at the beginning of June.

Last year annual results were presented on May 10th...

My money is on a 15:30 email on Thursday ;)

+1 on that!

Thursday, June 8th.


The embarrassingly modest profit announcement will be obliterated by the UK election, thus no face lost.

15 minutes after the first of the 82nd airborne paradrop into Pyongyang..:E

Modest profit of 2.5 billion instead of 7.7 billion..?

Any company in the world would love to have a profit anywhere near EK's. Let's get real for a minute.

If Willy Walsh turned a 2.5 bill profit, he'd get to be The Queen's personal shoe shiner for life..

Who cares? Whatever the number, it'll be smoke and mirrors. Again...

IAG is 2 airlines.

Well, 4 if you include BMI and BMED

IAG is 6 airlines
British Airways
Iberia
Aer Lingus
Veuling
Open Skies
Level

And the emirates group is this according to their www.

the Emirates Group as an immense organisation, spanning a portfolio of more than 50 brands and employing over 65,000 people

Higher education should become compulsory for professional pilots. Reading all this drivel you posted here, makes me feel sick. Let's be honest, even a BA in Literature can interpret an income statement or a balance sheet. It took you guys 3 posts to figure out how many airlines are members of IAG, just use google, for God's sake.

I believe what is being alluded to in the figures is the company can declare any profit it wants to as the numbers are not audited and the standard practice of accounting rules do not apply with EK and its declaration of financial results.

Emirates accounts actually are audited (traditionally by PwC).

I always thought that the somewhat extraordinary (to the region and ownership structure) transparency is driven by access to the financial markets for funding (corporate bonds etc.).

The fact that large corporations have a lot of maneuver space for declaring a loss or a profit (if they are solid enough) remains a fact anywhere.

Not a financial expert by far... my degree from elsewhere as well.

February 30

PWC is world respected in audit, and I don't want to hear about the Oscars, that was a one off, we all have done it.

As OBOGS said, Corps, especially in this part of the world have a lot of "maneuvering" space. At Emirates it is the PAYMENT TO OWNER, which comes from the profit, not after.

And that "gentlemen" is where we as Emirates pilots get screwed out of our profit share.

The financial "Boys" love this kind of stuff, use the payment to owner as a cost, screw the employees out of profit share, they don't f---king care.

That's transparency to them, the kind that keeps the funding going.

E-mail just in.

Interesting line in the email:

We’ve made some tough decisions. Until we’re on a stronger footing, we’ve frozen promotions, but will continue to fill and recruit essential roles. Expect firmer controls on salaries and benefits as we look to steady our payroll costs."

I wonder if FO's are considered "essential staff"

🙈😱

And the number is?

2.5Bn Dhs Profit
 

Or

Half the amount Ryanair made and a quarter of the figure IAG achieved.

Interesting times

Down 82.5%. Presume the beatings will have to intensify!

Hundreds will complain, nobody will walk away from the big shiny jets AND THEY KNOW IT.

This is proof. #helloRyanAir

Who'd have thought you could still pull a profit flying A380s around with 100 pax? There's magic in them there figures.

Meanwhile... DNATA side posts record breaking bunker busting profit "the highest in 58 years"... I'm sure the numbers all add up somehow...

Lesson learnt - build a business on cheap, largely south asian, labour.

Except that 2/3 of dnatas business is outside of the UAE

The Emirates Shop in The Dubai Mall might be bringing the profits down

There were a few choice little nuggets in the email - all to do with freezes on promotions, pay increases, and an open statement about reductions in benefits. Brilliant.

Axe half the VPs would be a good start

Airline profit 1.3bn Dnata 1.2bn

Are those the ones who are smiling today wondering what to do with their profit share whilst the ones that really made the money get nothing??:mad::mad::mad:

How pathetic.

When times are good they will stand in the auditorium and bask in the clapping of the rent-an-audience, lapping up the sycophantic adulation of the Costa Brigade.

But when they aren't, they refuse to present the results to the staff in person, and instead fire off an email to all releasing the figures. What leadership. Not. Absolutely spineless.

That's what's scary - refusal to take responsibility for the myriad of errors, and lead to this year's poor performance. And now - the signalling of reducing terms and conditions to those who work hardest.

Comparable to sending a text or email about how bad your relationship is going? It would be more prudent to have a face to face announcement when times are tough rather than stand there and soak up the praise when times are good. Certainly not good leadership or communication sorry to say.

J

The freeze on promotion and pay has been happening for most of the past year throughout the company. Some departments have seen demotion of the workers from grade 8 to grade 7 while still doing exactly the same job. Managers don't seem to have been handled the same way, surprising hey?
Total cop out sending an email.

An airline that never fails to disappoint.

I love the word "Resilience" Ive come to learn with bitter experience that its Dubai speak for someone about to stick the bat up your arse....

One of the major reasons that the deeply unrealistic profit target was not achieved was due to mismanagement of the airline and poor managerial choices, we know there is managerial ineptitude otherwise why employ a senior management consultant to fix it.
Their mistake.... our loss.

Need the succession plan and new strategy laid out asap. Until then nothing will happen.

This is all a kick in the groin. It just not worth it being here. Next year I am out.

Cost cutting
 

Seat capacity rose by 10% and operating costs increased by 8%....yeah that sounds pretty logical, more planes will do just that. What a great way to justify cost cutting.

What a blessing to have such a 'capable' management team to turn a profit even in the face of such global financial turmoil, I only wish they could make us work harder so our productivity increases.

Hello new TC's! Hello 3* hotels! Hello room sharing (CC only hopefully). This is all up CM's alley, he's more than qualified.

Look at the positives numbers

Workforce went up by 7.5%. (added just net 7 planes)
Break-even load factor went up to 64.5 from 60%

Wait a minute, those numbers are not supposed to go up.

".....stiff competition and over-capacity that hurt our loads and yields."

said the boss of the only airline with 142 A380 ordered.

If only all those other airlines did not order any aircraft we would be just fine.