Emirates posts 32nd consecutive year of profit

The Emirates Group has posted a US$456 million profit for the full year 2019/2020, that ended on March 31, 2020, down 28% from the previous year. Emirates recorded a 5% revenue fall to US$28.3 billion with a 15% cash balance increase to US$7 billion. The company announced that it is not paying a dividend in order to protect its liquidity.  During the year, the airline took delivery of six A380s from Airbus and retired six of its older (4 B777-300ER, 1 B777-300 and 1 B777-200F) aircraft. As part of its long term fleet planning, in November 2019, Emirates announced an order for 50 A350-900 XWB and 30 B787-9 aircraft at list prices of US$24.8 billion. The latest generation A350 and B787-9 aircraft will be delivered to Emirates starting from financial year 2023 and the aircraft will complement Emirates’ fleet mix, support network growth, and give more flexibility to serve seasonal or opportunistic demand better. With this, Emirates now has on order 203 aircraft – 8 A380, 50 A350, 115 B777-X and 30 B787-9, excluding options and purchase rights. Credit: AviTrader