Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
EK Announces Net Profit For First 6 Months  
User currently offlineJfklucky777 From United States of America, joined Mar 2008, 72 posts, RR: 0
Posted (4 years 10 months 4 weeks 1 day 23 hours ago) and read 2687 times:

Emirates announced a USD $205 million new profit for it's first 6 months $128 million more than the first 6 months last year.

The whole article could be read here: http://www.emirates.com/us/english/a...etail.aspx?article=518638&offset=0

4 replies: All unread, jump to last
 
User currently offlineLightsaber From United States of America, joined Jan 2005, 13154 posts, RR: 100
Reply 1, posted (4 years 10 months 4 weeks 1 day 22 hours ago) and read 2593 times:
Support Airliners.net - become a First Class Member!

There was another thread on this that disapeared. A profit is good news for EK. I noticed they burned through $1.1B in cash. That could have all been Aircraft and other purchases, but I have not confirmed.

Does anyone know what fraction of the new debt is government supported? By this I mean USA or EU (e.g., the recent EK bond offering backed by the US import/Export bank).

While a profit is good, I also look at cash flow and EK burned through $200M of cash and took on another $900M of debt.

At this point I think they need to slow aircraft purchases but keep moving forward with Concourse 3 (for long term growth). This is a change in my opinion on EK's growth. Long term they should do well and should return to their fast growth strategy to maintain their first mover advantage. But for the next 18 to 24 months, it will be about concerving cash.

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineAstuteman From United Kingdom, joined Jan 2005, 10071 posts, RR: 97
Reply 2, posted (4 years 10 months 4 weeks 1 day 22 hours ago) and read 2579 times:
Support Airliners.net - become a First Class Member!



Quoting Lightsaber (Reply 1):
There was another thread on this that disapeared. A profit is good news for EK. I noticed they burned through $1.1B in cash. That could have all been Aircraft and other purchases, but I have not confirmed.

That's not really correct, I don't think. Their net cash position deteriorated by only $200m from $2bn to $1.8Bn.
I recognise they secured $900m of new financing.

Rgds


User currently offlineLightsaber From United States of America, joined Jan 2005, 13154 posts, RR: 100
Reply 3, posted (4 years 10 months 4 weeks 1 day 20 hours ago) and read 2483 times:
Support Airliners.net - become a First Class Member!



Quoting Astuteman (Reply 2):
That's not really correct, I don't think. Their net cash position deteriorated by only $200m from $2bn to $1.8Bn.
I recognise they secured $900m of new financing.

You are correct. $200M less cash and $900M more debt. But in this environment, coming up with $1.1B per half year will be tough. Hence my opinion EK should slow growth for 18 to 24 months.

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineAstuteman From United Kingdom, joined Jan 2005, 10071 posts, RR: 97
Reply 4, posted (4 years 10 months 4 weeks 1 day 11 hours ago) and read 2272 times:
Support Airliners.net - become a First Class Member!



Quoting Lightsaber (Reply 3):
You are correct. $200M less cash and $900M more debt. But in this environment, coming up with $1.1B per half year will be tough. Hence my opinion EK should slow growth for 18 to 24 months.

Mind you, they seem to be making the "grow during a recession" paradigm work, if the lift in profits is anything to go by...

He who dares and all that..  Smile

Rgds


Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
WestJet Announces Record Profit For 2006 posted Wed Feb 14 2007 15:55:17 by YOW
Top Five Airlines With Net Profit For 2005. posted Tue Jul 18 2006 00:35:08 by BOE773
Embraer Net Profit For 2004 Up 113.7% posted Fri Mar 18 2005 04:29:37 by PPVRA
ANA Reports Net Profit For 2003 Fiscal Year posted Wed May 26 2004 03:18:59 by LImamura
Cathay Pacific Announces Net Profit Of US$84.2 Mil posted Wed Mar 6 2002 06:07:46 by Tesna
Continental Announces First Profit In 18 Months posted Thu Jul 17 2003 14:54:48 by Britair
FR Announces 3Q Net Profit Down 27% To €35m posted Mon Feb 4 2008 00:04:53 by Pe@rson
EK Announces Plans For Lounge Upgrades & Massages posted Fri Jan 25 2008 15:45:53 by TUIflyer
Swiss First Quarter 2007 Net Profit Soars 2950% posted Thu Apr 26 2007 12:34:49 by SRforever
Net Profit Of CX/EK/SQ/QF/BA In 2004 posted Fri Jun 17 2005 11:51:59 by United Airline