Travel/Tourism
Emirates Rakes $18.3bn in Six Months on Strong Demand for International Travel
By Aduragbemi Omiyale
The strong demand for international travel across regions, especially as the airline business recovers from the COVID-19 pandemic of 2020, has helped Emirates Group, one of the big players in the aviation industry, to generate about $18.3 billion in the first six months of the financial year of the firm.
On Thursday, the company released its financial statements for the 2023/24 fiscal year, with earnings rising by 20 per cent from the $15.3 billion achieved a day ago.
The organisation, in the period under review, illustrated its strong profitability, as net profit went up by 138 per cent to $2.7 billion from $1.2 billion recorded in the first six months of last year.
The sterling performance excited Emirates Group, which described it as “its best-ever six-month financial result,” particularly because the EBITDA improved to $5.6 billion from $4.2 billion.
The Group closed the first half year of 2023-24 with a flattish cash position of $11.6 billion, allowing the firm to support business needs, including debt payments.
“We are seeing the fruition of our plans to return stronger and better from the dark days of the pandemic. The Group has surpassed previous records to report our best-ever half-year performance.
“Our profit for the first six months of 2023-24 has nearly matched our record full-year profit in 2022-23. This is a tremendous achievement that speaks to the talent and commitment within the organisation, the strength of our business model, and the power of Dubai’s vision and policies that have enabled the creation of a strong, resilient, and progressive aviation sector,” the Chairman of Emirates Group, Sheikh Ahmed bin Saeed Al Maktoum, said.
“Across the group, we’ve continued to ramp up operations safely and move nimbly to meet customer demand.
“We’ve implemented a series of service and product enhancements to win customer preference, and we’ll continue to invest in our people, products, partnerships, and technology to strengthen our capabilities and ensure we are future-ready,” he added.
“For the second half of 2023-24, we expect customer demand across our business divisions to remain healthy and we will stay agile in how we deploy our resources in this dynamic marketplace.
At the same time, we are keeping a close watch on headwinds such as rising fuel prices, the strengthening US dollar, inflationary costs, and geopolitics,” he said.
By Aduragbemi Omiyale
A travel card designed for tourists, business visitors, Diaspora returnees has been launched by Verve in partnership with Providus Bank.
Known as the ProvidusVerve Travel Card, the Naira-based travel card will allow inbound travellers to enjoy a smooth, secure, and convenient payment experience throughout their stay in Nigeria. It was powered by Verve’s secure.
Created to support the surge of tourists, expatriates, business visitors, conference delegates, and returning diaspora expected during the festive Detty December season, the ProvidusVerve Travel Card enables seamless payments for transportation, hotels, dining, shopping, entertainment, and everyday essentials nationwide.
The card also works on select global merchant platforms that accept Verve, including Netflix, Google Play, and other digital services, ensuring travellers enjoy uninterrupted access to familiar services.
The ProvidusVerve Travel Card eliminates the hassle of sourcing naira or converting foreign currency on arrival. It enables instant, secure transactions, reduces reliance on cash, and supports compliance with the cashless policy of the Central Bank of Nigeria (CBN).
It also mitigates the risks associated with carrying physical cash such as loss, theft, or fraud, offering a safe, regulation-aligned option for both online and in-person payments.
“The ProvidusVerve Travel Card is a timely solution for inbound travellers seeking reliability, security, and simplicity while navigating Nigeria.
“Together with Providus Bank, we have created a product that eliminates the friction traditionally associated with accessing local payments.
“Whether for tourism, business, or festive activities, this card ensures a smooth financial experience from the moment visitors land,” the Vice President for Issuing and Acquiring Management for Africa at Verve International, Mr Paul Ohakim, stated.
On his part, the Divisional Head for Product Management and Solution Delivery at Interswitch, Mr Ademola Adeniran, described the partnership as a reflection of “Verve’s commitment to designing products that respond to real user needs.”
“The ProvidusVerve Travel Card supports everyday experiences — from booking rides and hotels to shopping, streaming, and dining. It provides inbound travellers with a secure, compliant, digital-first way to experience Nigeria without financial barriers,” he added.
By Adedapo Adesanya
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has disclosed that the federal government may recover and sell the assets of Dana Air to refund passengers and travel agents whose funds remain trapped following the suspension of the airline’s operations.
The Minister disclosed this in Abuja on Tuesday at the Ministry’s fourth quarter stakeholders’ engagement to enhance governance for effective service delivery in aviation.
Speaking at the event themed “leveraging public feedback to drive excellence in aviation services, the Nigeria Civil Aviation Authority (NCAA) will be directed to probe why funds trapped by the airline are yet to be refunded.
He revealed that the authority suspended the operations of the airline as a matter of choice between safety and disaster.
“For Dana, the problem is that it was a choice between safety and disaster. So we didn’t take the commercial thing as priority. The priority was safety, and we all looked at the damning reports that we had met on the table.
“It was a decision of the NCAA to suspend them, but I pushed them to say, look, these are the reports we are seeing on the table about safety record, about lack of standards that put the lives of Nigerians at risk. If they continue flying, I don’t know whether most of us will be here. Many of us would have been victims of one of those flights. God forbid.”
According to him, “I have asked Najomo (NCAA director general) to dig deep to find out how those passengers and agents will be refunded. He has to dig deep on that.
“One solution will also be that if that same individual or those entities are trying to come back to aviation under any guise, whether to go and register a new AOC or use any business within the aviation sector, they have to go and settle their debts first.
“We should look at their assets. There are assets that are still available. Let them sell their assets. Let’s cannibalize their revenue and pay people. Let’s find a way to go after their assets and get money to pay Nigerians who are owed.
“NCAA should do that because they can’t get away with it.”
By Adedapo Adesanya
The Nigerian Civil Aviation Authority (NCAA) said it has imposed a N5 million penalty on Qatar Airways for consumer protection violations.
The announcement was made on Wednesday by the NCAA’s Director of Public Affairs & Consumer Protection, Mr Michael Achimugu, on X, adding that there may be other sanctions depending on how the airline treats other cases.
“Glad to announce that, today, the NCAA has sanctioned @qatarairways to the tune of five million naira being penalty for consumer protection-related infractions. In addition, the letters of investigation (LOI) written to the airline over other cases may lead to further sanctions if not treated satisfactorily,” Mr Achimugu wrote.
The fine followed an incident when a Nigerian passenger was accused by a Qatar Airways cabin crew member of sexual harassment during boarding in Lagos for a flight to the United States via Doha, Qatar.
The allegation was only reported in Doha, where the passenger was arrested, detained for 18 hours, fined, and compelled to sign a document written solely in Arabic.
Qatar Airways allegedly refused to continue his journey, forcing him to purchase another ticket at considerable financial and reputational cost.
The NCAA said it invited Qatar Airways’ country manager to a meeting over the incident, but he failed to attend, sending subordinates instead.
“I understand that some countries do not have advanced aviation consumer protection regulations like Nigeria does. In certain cases, some countries don’t even have any. This creates a situation where airlines operating out of those countries (mostly national carriers) act with disdain towards consumer protection enforcement in Nigeria.
“This is not a situation that we would accept here. It is against the law for ANY Airlines not to respond to the NCAA. It is against the law to provide false information to the NCAA. It is against the law to fail to comply with the provisions of Part 19 of the NCAA Regulations 2023,” Mr Achimugu said in an earlier post.
In September, the NCAA accused Qatar Airways of mistreating Nigerian passengers and failing to comply with consumer protection regulations under Part 19 of the NCAA Regulations 2023.
The regulator then threatened stiff penalties against the airline for repeatedly disregarding its directives.
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