By Murdo Morrison in Dubai
Airbus has told United Arab Emirati full service carrier Emirates that it can expect its first A380 to be delivered in mid-April next year.
The announcement came as Emirates announced record profits on the back of increased passenger figures, despite continued pressure caused by high oil prices. The higher fuel prices helped put a lid on profit growth at the Emirates' airline operation last year, although revenues soared by more than a quarter.
The airline's chairman and chief executive Sheikh Ahmed bin Saeed Al-Maktoum said at its annual results announcement in Dubai today that he had been to Airbus's headquarters in Toulouse “two or three weeks ago" and that "they confirmed we will receive it [the A380] by mid-April”.
Emirates is launch operator for the Engine Alliance GP7200-powered A380 and, so far, Airbus has only said that the aircraft will be delivered in the “second quarter” of 2007.
Al-Maktoum said Emirates would have a fleet of 156 aircraft by 2012, up from 83 today.
The carrier reported a net profit rise of 2.8% to Dhs2.5 billion ($674 million) for the year to 31 March. Last year's profits for airline operations were Dhs2.4 billion.
The profit was made on revenues of Dhs23 billion in the year to 31 March, up around 4% on the 2004-05 figures of Dhs18 billion. Emirates Group’s overall revenue was also up 27% to Dhs24.3 billion while group profit rose 5% to Dhs2.8 billion.
The figures mark the airline’s eighteenth consecutive year of profit.
The Dubai-based airline carried 14.5 million passengers, an increase of almost 200,000, and just over one million tonnes of cargo.
Al-Maktoum says profits were in line to grow by 13% this year as a result of “more efficiency” and fuel hedging. But he says he expects fuel prices to remain at a level of around $70-80/bbl during 2006. A fuel surcharge levied by Emirates clawed back just 41% of the airline’s increased fuel costs last year.
Fuel expenditure accounted for 27% of total operating costs, up from 21% in the previous year, but the carrier says it saved $189 million in fuel costs through a risk-management programme.
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He added that the US move to block the Dubai government owned DP World's takeover of several US ports would not affect its plans to buy Boeing aircraft (including 777 types, pictured above) or open new destinations in the country. Its only US route is currently New York Kennedy, but cities being considered include Chicago, Houston and San Francisco.
Emirates will pay an increased divided of Dhs386 million to the Dubai government, which owns the carrier, a 5% rise on the previous year. Since the 2000-01 financial year the government has received Dhs1.4 billion from the airline.
Source: Flight International
