Emirates 2007/08 Annual Results
 

EMIRATES POSTS NEW RECORD PROFITS

30 April, 2008

Group profit up 54.1% to AED 5.3 billion (US$ 1.45 billion)
Airline profit up 62.1% to AED 5 billion (US$ 1.37 billion)
Dnata marks net profit of AED 305 million (US$ 83 million)

20th consecutive year of net profit for the airline and group
Ownership to receive AED 1 billion (US$ 272.5 million) dividend
Group’s estimated contribution to Dubai economy worth AED 47 billion (US$ 12.8 billion)

DUBAI, UAE, 30th April 2008 - The Emirates Group today reported its 20th consecutive year of net profit, notching a new profit record despite soaring oil prices and challenging business conditions in the second half of its 2007-08 fiscal year.


Full article here


Also announced a 14 week profit share for all employees.



Typhoonpilot

The 2008 Pay Review is out and it's pretty reasonable news for EK drivers.

New hire first officer basic pay will now be Dirhams 22,720/month ($6174) plus roughly $855 in flying pay (45 Dirhams per hour). Current employees also get a 3% step increase to their basic pay. So the job is now roughly $84,000/year to start. With the bonus, overtime, and step increments a second year first officer will make $100,000 this year. That's tax free as well.

Review of housing and school allowances will come in June.

This is the 4th consecutive year of more than 10% pay raise for EK pilots :)


Typhoonpilot

Great News for Emirates pilots.