EMIRATES reports that its spectacular growth slowed a little during the last financial year, but managing director Maurice Flanagan promises that this is no more than a "pause for breath".
Passenger numbers rose by over 12%, while cargo traffic grew by nearly 25% during the 1994/5 year. Flanagan acknowledges that the figures are a step down from the annual growth rates of 30% a year, which the airline has been averaging since its launch in 1986.
He adds that 1994 "represents a pause for breath before the next spurt of growth", which is due to resume when the first of seven Boeing 777s goes into service in April 1996. The fleet now stands at 16 Airbus A300/A310s, following the sale of the last Boeing 727s.
Profits at the airline edged up by 6% to $25.9 million, despite the temporary suspension of flights to plague-struck India during the year, which cost $8 million, and a depreciation charge of $9 million taken against the 727s.
A recovery at DNATA, which runs ground handling at Dubai International Airport, helped the Emirates group to show a 24% rise in profits to $40 million.
Source: Flight International
