DUBAI: Emirates, one of the world’s biggest long-haul airlines, reported a 21 percent rise in full-year profit on Sunday, but warned the outbreak of the new coronavirus hit its performance in the fourth quarter of the financial year.
The Dubai state carrier made $287.5 million in the 12 months to March 31, compared to $237.3 million a year earlier.
Revenue contracted 6.1 percent to $25 billion as the number of passengers carried fell 4.2 percent to 56.2 million.
Emirates blamed the drop in revenue on runway works at Dubai International airport last year, forcing the airline to reduce capacity for 45 days, and the coronavirus pandemic which has crushed travel demand.
The airline suspended regular, scheduled passenger flights in late March, though it has since operated some services for foreigners leaving the United Arab Emirates, while cargo flights continue to operate.
Emirates sister airport services company dnata saw profit drop by 57 percent to $168.4 million, which the company attributed to increased investment in its catering and airport services divisions and weak demand for the travel business.
Dnata’s profit would have been 72 percent lower had it not been for a one-time divestment, and the unit has started a review of its travel business which booked a $35.9 million impairment.
Profit at Emirates Group, which counts Emirates airline and dnata among its assets, fell 28 percent to $463 million. Revenue was down 4.8 percent to $23.3 billion.
Dubai carrier Emirates airline reports rise in annual profit
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Dubai carrier Emirates airline reports rise in annual profit
- Emirates made $287.5 million in the 12 months to March 31
- Emirates blames the drop in revenue on runway works at Dubai International airport last year
Barcelona blitz Athletic Bilbao 5-0 to book place in Super Cup Final
- In a breathtaking 16-minute spell, the Catalans turned uncertainty into complete control, racing into a four-goal lead before the interval
- Raphinha scores a brace with goals on either side of half-time
JEDDAH: It did not look like the easiest opening 20 minutes for Barcelona in Jeddah during their encounter with Athletic Bilbao. Yet in a breathtaking 16-minute spell, the Catalans turned uncertainty into complete control, racing into a four-goal lead before the interval.
More than 50,000 fans packed the Al-Inma Stadium in Jeddah to witness the spectacle, although the likes of Marcus Rashford and Lamine Yamal were rested, allowing opportunities for youngsters like Roony Bardghji and Fermin Lopez.
Lopez would emerge as one of the standout performers of the night. While his threat inside the box was evident, it was his creativity that truly shone in front of the Jeddawi crowd.
Barcelona broke the deadlock in the 22nd minute. A sweeping move from side to side ended with Raphinha finding Bardghji on the right, whose cutback was met by Lopez before being laid off for Ferran Torres to finish calmly for 1-0.
Just eight minutes later, an exquisite backheel from Pedri released Raphinha down the left flank once again, with his low cross this time finding López to double Barcelona’s advantage.
Lopez contributed to his third goal of the night minutes later, this time slipping Bardghji down the right. The Kuwaiti-born winger skipped past Adama Boiro before striking at goal, with Unai Simon mishandling the ball as it trickled over the line.
The Blaugrana showed no signs of slowing down. Raphina finally got on the scoresheet in emphatic fashion with a belter into the top corner in the 38th minute.
To the surprise of many, neither side made any changes at the break. That decision quickly proved costly for Bilbao, as Raphinha struck again early in the second half, once more exploiting space down the flanks to extend the lead to 5-0.
With the contest beyond reach, Athletic head coach Ernesto Valverde rang the changes, making five substitutions to give minutes to his squad.
Barcelona, meanwhile, eased off to conserve energy ahead of Sunday’s final. To the delight of the crowd, both Rashford and Yamal were introduced, with Yamal receiving a warm standing ovation upon his entrance in the 72nd minute.
The emphatic victory marks Barcelona’s second consecutive five-goal display in the Spanish Super Cup, following last year’s 5-2 triumph over Real Madrid in the final.
The second semi-final takes place on Thursday, as Real Madrid face Atlético Madrid, with the winner set to meet Barcelona in Sunday’s final.
