Monday, June 6, 2011

Emirates Airlines Brighter Prospects

Emirates Airlines must be very happy with the news of the last couple of weeks. Having posted its best ever profit results of USD 1.5 Billions (click here for details) in 2010, the airline had more good news;

1. Emirates closed a USD 1 Billion Bond Issue which was indicative of the investor community confidence in
    the airline financial health and strength.

2. The Oxford Economics Report concluded that the success of Emirates is not the result of unfair
    competition or government support but because of effective aviation policy. The report concluded that
    the aviation  sector in Dubai  generates 125000 jobs  and their spending supports an additional 134000
    jobs which contribute an additional USD 7.9 Billions in Dubai's GDP. In total  the aviation sector's 
    contribution to Dubai's economy is 250000 jobs and USD 22 billion representing around 19% of total 
    employment and 22% of GDP.

3. MasterCard Index of Global Destination Cities ranked Dubai as the #9 most popular destination City 
    in the world in 2011 with 7.9 million visitors and a USD 7.8 Billion spend.

All the above and the rebound of passengers growth in April compared to March is validating Emirates policies and plans 

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