Emirates Soars

Emirates Soars

Copyright 2004, Traffic World, Inc.

Emirates Airline will enter the U.S. market with passenger and freighter service later this year flying on some strong financial results. The Dubai-based airline reported a 73.5 percent increase in profits to $429 million for its fiscal year that ended March 31. Revenue soared too, up 37 percent to $3.6 billion.

Emirates, which is owned by the United Arab Emirates government, plans to begin freighter service to the United States later this year; passenger service from Dubai to New York on June 1. Emirates flies five freighters in addition to 62 widebody passenger planes that carry belly cargo.

The freighters account for about one third of the airline''s cargo revenue with belly cargo bringing in the rest. For the fiscal year that just ended, Emirates reported $659 million in cargo revenue, a 42 percent increase from a year earlier.

Emirates added 15 planes to its fleet during the past year and has 90 new planes in the pipeline. It plans call for the addition of least one plane per month through the end of the decade to reach its goal of a 130-plane fleet by 2012.