Airline “defies aviation gloom” with $622mn profit
Emirates has “defied aviation gloom”, in the news agency Reuters’ words, by lifting net profit for 2012 by 52% to the equivalent of $622 million (€478 million).
The Dubai-based airline is the world’s fourth biggest carrier in terms of international passengers. Its strategy for continued growth is connected with Dubai’s location – within a four-hour flight of third of the world’s population. This allows it to sell the idea of travel via its hub in competition with other global hubs such as London, Frankfurt, New York and Singapore.
Emirates began a 10-year alliance with Qantas Airways in September – a deal that includes changing Qantas’ hub for European flights from Singapore to Dubai.
[pictured: Emirates Business Class lie-flat seat; courtesy Emirates]