Gulf carriers continue to defy the downturn and the impact of rising tension in the region with strong performances over the past year.
Dubai-based Emirates has reporting a sharp increase in traffic, revenues and profits for the year to 31 March, with 10.2 billion dirhams ($2.8 billion) in revenue, and net profit up 74% to 1.05 billion dirhams. Passenger numbers rose 26% to 8.5 million and load factor reached 77%.
Local rival Gulf Air also reported improved results for 2002, with losses down to 41 million dinars ($108.7 million) from 50 million dinars last year. Next month will see the launch of a new single-class full-service subsidiary, based in Abu Dhabi (Flight International, 1-7 April).
Qatar Airways says it has exceeded its targets for the latest full financial year, with sales revenue 10% above target for the year to 31 March. The 2.5 million passenger total for the year was 300,000 above forecast.
Source: Flight International
