Airline group reported a 67 per cent rise in profit in the 2017 fiscal year
Emirates awards five-week bonus to staff after profit hike
Emirates Group, operator of the world’s biggest long-haul airline, will award a five-week bonus each to its employees in this month’s pay-cheque after the group announced a 67 per cent rise in profit for the last fiscal year, chairman Sheikh Ahmed bin Saeed Al Maktoum said on Wednesday.
The remuneration is in line with previous year’s benefits, although in years gone by some of the group’s approximately 100,000 staff have received more than that.
Emirates on Wednesday said net profit for the airline rose 124 per cent to Dh2.8 billion in its fiscal year ending March 31, 2018, while parent company Emirates Group, which also includes its Dnata ground-handling operations and cargo, posted a 67 per cent rise in profit to Dh4.1bn in the same period.
Higher revenues, seat capacity and a decline in the US dollar against major currencies in most of its key markets were cited as the principle factors behind the growth, as well as the tie-up last year with low-cost sister airline flydubai, which has helped to streamline operational costs and boost revenues.
Emirates reduced its payroll by 3 per cent in the past 12 months and has launched a cabin crew recruitment drive advertising vacancies on its website, amid reports that the airline is facing a shortage of pilots and other crew.
However, Sheikh Ahmed dismissed reports of a recent spate of resignations and denied the group is facing a shortage of staff.