In business with just two leased aircraft
In business with just two leased aircraft
Dubai: The Dubai Government launched Emirates in 1985 with $10 million in start-up capital. When the airline took off on October 25, 1985, its fleet comprised just two leased aircraft - a Boeing 737 and an Airbus 300 B4.
The airline started off shuttling on the Dubai-Mumbai (then Bombay) and Dubai-Karachi routes, mainly cashing on the predominently labour traffic.
"We were paid $10 million to kick-start the airline," Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman of Emirates Group, said at a press conference last year. "That's it. We were told not to return to the government for money. We started the airline with that. We did not seek any more funding. We continued our journey and [have] remained profitable all the years thereafter, except one year."
Gradually, Emirates added London, Paris, Frankfurt and other routes to its network. "Currently, 108 aircraft crisscross the earth to 97 destinations in 61 countries, while Emirates has evolved into a formidable travel and tourism conglomerate," an Emirates statement says.
Excellence
"Owned by the Government of Dubai, Emirates has excelled through innovation and the boundless energy of its 30,000 staff, as they pursue the highest standards of customer care."
Competition has been made all the more fierce by Dubai's Open Skies policy, which allows more than 110 airlines to pass through the city's busy airport.
"Although government-owned, Emirates is not subsidised in any way by the authorities. In fact, the airline has recorded a profit every year, except its second year of operation. Growth has never dropped below 20 per cent," the statement says.
For the financial year ending March 31, 2007, The Emirates Group announced record net profit of Dh3.5 billion ($942 million).
Total group revenue increased by 28.8 per cent, to Dh31.3 billion ($8.5 billion) compared to Dh24.2 billion ($6.6 billion) the previous year.
Currently, more than 50 per cent of all flight movements in and out of Dubai International Airport belong to Emirates. By 2010, that figure is expected to increase to 70 per cent.
Fact file: Some important milestones
- May 1985: Emirates Airline is incorporated.
- October 25, 1985: First flight takes off, marking a new era in commercial aviation in the Gulf.
- July 1987: Emirates starts flights to London.
- April 1, 1998: Emirates acquires a financial stake of 40 per cent and a management contract for Air Lanka, later rebranded Sri Lankan Airlines.
- November 2001: Emirates stuns the world with a massive order for A380s.
- December 18, 2003: Airline announces plans to launch a $400 million international bond issue.
- January 2004: Emirates starts flights to Accra, Ghana.
- March 24, 2004: Dnata Agencies plans to launch operations in Saudi Arabia.
- April 19, 2004: An Airbus A340-313X of Emirates runs off the runway when taking off from OR Tambo International Airport.
- May 1, 2004: Emirates starts flights to New York.
- December 8, 2004: Dnata says it plans to launch operations in Oman, Bahrain, Qatar and Sudan in 2005.
- November 20, 2005: Emirates places orders for 42 Boeing B777s with 20 on options, worth Dh35 billion ($9.7 billion) at list price.
- March 2006: Emirates starts flights to Hamburg.
- May 2006: Emirates starts flights to Dusseldorf.
- September 2006: Emirates starts flights to Beijing.
- October 27, 2006: Emirates says it has cancelled an order for 20 Airbus A340-600.
- May 7, 2007: Emirates reaffirms its order for 43 A380s and commits to another four as well, bringing the total to 47.
- June 18, 2007: During the Paris Air Show, Emirates orders eight additional A380s, bringing its total ordered to 55.
- September 2007: Emirates launches flights to Sao Paulo, and in the process makes history by operating direct flights to all the six continents from its hub
- October 29, 2007: Emirates launches flights to Toronto and Ahmedabad.
Group companies
Emirates Airline, Emirates SkyCargo, Skywards, Emirates Holidays, Arabian Adventures, Emirates Hotels & Resorts, Emirates Al Maha Desert Resort & Spa, Emirates Wolgan Valley Resort & Spa, Emirates Marina Hotel and Residence, Emirates Green Lakes Serviced Apartments, The Timeless Spa, The Emirates Aviation College - Aerospace and Academic Studies, Dnata, Dnata Airport Operations, Dnata Cargo, Dnata Agencies, Congress Solutions International, Emirates Group IT, Mercator, EmQuest, Transguard.
