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"But also note that the government spends a lot of money on the airport and the infrastructure so that's where a lot of money goes."
Fuel accounted for 34.4 per cent of Emirates' operating costs in 2010-11.
Shaikh Ahmad is also Chairman of the Supreme Fiscal Committee that Dubai created two years ago.
Looking ahead"Of course, the fuel price increase impacted Emirates just like it did all airlines across the globe. We paid an extra $250 million (Dh918 million) in the last four months, which affected our profitability. Otherwise we would have made an extra profit of Dh1 billion,beats by dre," Shaikh Ahmad said.
He added that the carrier "can do the same,burberry pas cher, if not more" in its following financial year as well,louboutin, "particularly if demand pressures mean they don't expand as fast. That means that they have cash to spare and put back into the Dubai Government".
Dubai: Emirates Group will give Dh2 billion — the highest ever — in dividend for the financial year 2010-11 to its shareholder — the Government of Dubai,burberry soldes, Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group, said.Target for 2011-2012
The dividend paid by the airline has substantially increased over the last few years. Emirates paid Dh1.6 billion as dividend to Dubai Government in the previous financial year ending March 31, 2010.
Saj Ahmad, UK-based aerospace and aviation analyst with FBE Aerospace,burberry, told Gulf News: "Emirates has a very strong cash balance and its liquidity and access to capital is excellent. The amount paid out is no more than what it can afford, so the sum given is not that surprising given the company's financial strength."
Shaikh Ahmad said yesterday that the cash balance for the Emirates Group stood at $4.4 billion (Dh16.16 billion) for the year, which marked a whopping 28.3 per cent increase over the previous year.
Despite the volatility in oil prices, Emirates expects to continue making profit,abercrombie, according to Shaikh Ahmad. "Our target will always be to do more than what we did in the previous year. The airline will grow at a double-digit rate this year and next,abercrombie france," he said.
Impact of fuel prices
He spoke to Gulf News on the sidelines of a press conference to announce the company's earnings for 2010-11.
Saj Ahmad,abercrombie and fitch, analyst with FBE Aerospace, told Gulf News: "Emirates fuel hedging policy will be largely unchanged for the next couple of years. They have a great strategy of buying inventory at prices that do not leave them susceptible to dramatic oil price fluctuations."
He said. "Yes, we are announcing a dividend of Dh2 billion to our shareholder. It is the highest dividend we have paid so far.
Added Diogenis Papiomytis, Principal Consultant,casque beats, Aerospace and Defence Practice at Frost & Sullivan: "With the current volatility in oil prices, fuel hedging is nothing more than a risky bet. Although the long-term trend is upwards, no one can predict how fuel prices will perform this year or next."
相关的主题文章： But now, due partly to the worldwide recession and partly to China's greater openness to global business, weaknesses seem to be mounting below its glamorous surface.
