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Dubai: Emirates Group achieved growth across all its business divisions, with the airline accounting for 96 per cent of its revenues.
The airline's revenues totalled Dh39.5 billion, an increase of 32.3 per cent from Dh29.8 billion in the previous year. Its net profit of Dh5 billion marked a 62.1 per cent increase over 2006-07's profit of Dh3.1 billion.
In 2007-08, the airline's fleet expanded with 11 new Boeing 777s delivered, including Emirates' first 777-200LR passenger aircraft. At the end of March the Emirates fleet reached 114 aircraft, including 10 freighters, boasting an average age of 67 months.
Emirates SkyCargo carried 1.3 million tonnes of cargo, 10.9 per cent more than the previous year's 1.2 million tonnes. It recorded a revenue increase of 20 per cent to Dh6.4 billion, up from Dh5.4 billion in 2006-07. Cargo revenue contributed 19 per cent to the airline's total transport revenue.
Dnata, the airport services division, recorded revenue growth of 27.2 per cent to Dh2.6 billion, compared with Dh2.1 billion during the previous year.
Its net profit reached Dh305 million despite a challenging year for airport and cargo operations with ongoing construction at Dubai airport and peak traffic congestion.
Dnata handled 119,510 aircraft, nine per cent more than the previous year, and 35.6 million passengers, an increase of 18.4 per cent on. The volume of cargo handled grew 18.2 per cent to 632,549 tonnes.
In 2007-08, Dnata expanded its international ground-handling operations, investing in similar businesses in Switzerland, Australia and China, to bring its reach to 17 airports in seven countries.
It opened freight gate-5 in Dubai Airport Free Zone to handle premium freight, and also saw operations at Dubai Terminal 2 increase with the opening of a 37,000 square foot extension that will serve 700 more flights per week and an annual throughput of approximately five million passengers.
The destination and leisure management unit of Emirates recorded sales of Dh1.4 billion, improving its 2006-07 performance by 22 per cent. Arabian Adventures and Emirates Holidays cared for a total of 397,000 tourists, an eight per cent increase.
Arabian Adventures also played host to 297,000 visitors over the year, up 13 per cent from 2006-07.
Emirates Hotels and Resorts has expanded from into a multi-property hotel operation. The Harbour Hotel and Residence in Dubai Marina opened in November 2007.
The luxury Green Lakes serviced apartments will open in May this year. Construction has started on the Wolgan Valley Resort & Spa in Australia's Blue Mountains, scheduled to open end 2009.
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