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Emirates Expects Strong Customer Demand as Half-Year Profit Hits $2.5bn

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By Aduragbemi Omiyale

In the first six months of the 2024-25 financial year of Emirates Group, a net profit of AED 9.3 billion ($2.5 billion) was recorded, with the pre-tax profit growing to AED 10.4 billion ($ 2.8 billion).

Also, the revenue went up by 5 per cent to AED 70.8 billion ($19.3 billion) from the AED 67.3 billion ($18.3 billion) recorded in the same period of last year, reflecting the consistently strong customer demand across business divisions, and across regions.

“We expect customer demand to remain strong for the rest of 2024-25, and we look forward to increasing our capacity to grow revenues as new aircraft join the Emirates fleet and new facilities come online at dnata. The outlook is positive, but we don’t intend to rest on our laurels.

“We will stay agile in deploying our capacity and resources in a dynamic marketplace,” the chief executive of the organisation, Mr Ahmed bin Saeed Al Maktoum, stated.

“The Group has surpassed its record performance of last year to deliver a fantastic result for the first half of 2024-25. This again illustrates the power of our proven business model working in combination with Dubai’s growth trajectory as a city of choice to live, work, visit, connect through, and do business in,” he added.

It was observed that apart from demonstrating strong operating profitability, Emirates maintained a robust EBITDA of AED 20.4 billion ($5.6 billion), slightly lower than AED 20.6 billion ($5.6 billion) last year.

The firm posted a solid cash position of AED 43.7 billion ($11.9 billion) as of September 30, 2024, compared with the AED 47.1 billion ($12.8 billion) achieved on March 31, 2024.

Emirates has been able to tap on its own strong cash reserves to support business needs, including payments for new freighter aircraft orders and other debt payments, also paying AED 2 billion in dividends to its owner, as declared at the end of its 2023-24 financial year.

“The group’s strong profitability enables us to make the investments necessary for our continued success. We’re investing billions of dollars to bring new products and services to the market for our customers; to implement advanced technologies and other innovation projects to drive growth; and to look after our employees who work hard every day to ensure our customers’ safety and satisfaction,” the chief executive stated.

Emirates continued to enhance its network and increase connectivity options through its Dubai hub. During the first half of 2024-25, Emirates increased scheduled flights to 8 cities: Amsterdam, Cebu, Clark, Luanda, Lyon, Madrid, Manila and Singapore.

In May, Emirates restarted daily services to Phnom Penh in Cambodia via Singapore. In June, it launched daily services to Bogotá via Miami, expanding the airline’s South American presence to Colombia. In September, Emirates opened a new route to Madagascar via the Seychelles – taking its passenger and cargo network to 148 airports in 80 countries by September 30.

Expanding connectivity options for customers, during the first six months of 2024-25, Emirates entered into new agreements with 7 codeshare, interline, and intermodal partners: AirPeace, Avianca, BLADE, ITA Airways, Iceland Air, SNCF Railway, and Viva Aerobus.

Travel/Tourism

US to Nigerian Travellers: Visa Overstays Not Good for Fellow Citizens

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Nigerian Travellers US Visa Overstays

By Adedapo Adesanya

The United States (US) has warned that visa overstays by Nigerian travellers could deny future opportunities for other aspiring applicants.

The United States embassy had earlier in February stated that compliance would help protect visa access for students and business travellers.

In a reminder statement posted on its official X handle on Monday, the US Mission in Nigeria advised that strengthening compliance helps protect visa access for students, business travellers, and families who travel responsibly.

“#Reminder: Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens. Strengthening compliance helps protect access for students, business travellers, and families who travel responsibly. If you are aware of visa fraud, please report it to [email protected] or [email protected],” the statement read.

Last August, the Mission also announced that all non-immigrant visa applicants must now provide details of their social media accounts from the past five years.

In a statement, the embassy said applicants are required to disclose usernames or handles from every platform used within the period when completing the DS-160 visa application form.

“Visa applicants are required to list all social media usernames or handles of every platform they have used from the last 5 years on the DS-160 visa application form. Applicants certify that the information in their visa application is true and correct before they sign and submit,” the statement read.

The mission warned that omitting such information could result in visa denial and render applicants ineligible for future visas.

The DS-160 is the standard online form required for most US non-immigrant visas, including temporary business (B-1), tourism (B-2), student visas (F and M), and work-related categories such as the H-1B.

It insisted the new rules were designed to enhance security, they come amid repeated US criticism of governments accused of clamping down on free speech online.

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Tinubu Okays 30% Debt Relief to Airlines, Orders Fuel Price Talks

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Tinubu 2026 budget

By Adedapo Adesanya

President Bola Tinubu has approved a 30 per cent relief ​on debts owed by local ‌airlines to aviation agencies and ordered talks involving fuel marketers, airlines, and ​regulators to reach a ​fair jet fuel price.

He had earlier agreed in principle ​to write off part of domestic ‌airlines’ debts to aviation agencies following successful talks with the Airline Operators of Nigeria (AON).

The group demanded a total waiver of debts owed to aviation agencies to cushion the effect of a 300 per cent increase in aviation fuel prices during a crucial high-level meeting with the Minister of Aviation and Aerospace Development, Mr Festus Keyamo and other critical stakeholders in Abuja.

Recall that the airlines had called off their impending strike due to commence on Monday over the rising cost of operations, particularly for fuel, triggered by the current Middle East crisis.

In an update on Thursday, Mr Keyamo said President Tinubu had approved the 30 per cent write‑off ​and tasked stakeholders, including fuel marketers, government representatives, airlines, and ​regulators, to reach a ​fair jet fuel price by Sunday.

Also, the federal government agreed to set up a committee to ​review taxes, levies and fees charged ​on domestic air tickets, to recommend cuts to ease ‌pressure ⁠on airlines and passengers.

Engagements among representatives from government, ​airlines, fuel marketers, and regulators will continue to agree on what the minister described as “fair and reasonable” pricing for jet fuel, ​with any ​outcome ⁠to be made public.

The cost of fuel has generally risen in the last two months due to the escalating war with Iran by the US and Israel, which has triggered one of the most severe energy shocks in decades. Oil prices are currently above $100 per barrel as markets react to escalating tensions and the risk of prolonged disruption.

At the centre of the crisis is the Strait of Hormuz, a chokepoint through which roughly one-fifth of global oil supply flows. With shipping constrained, the effects are cascading across the global economy, raising fuel costs, fueling inflation, and increasing the risk of economic slowdown across many economies. This is forcing airlines to raise fares, curb ⁠growth ​plans and rethink forecasts.

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Nigeria Achieves 91.4% Safety Rating in ICAO Assessment

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aviation safety rating

By Adedapo Adesanya

Nigeria has received a 91.4 per cent aviation safety rating following the latest assessment by the International Civil Aviation Organisation (ICAO) Coordinated Validation Mission (ICVM), marking one of its strongest performances in recent years.

This was disclosed by the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who announced the development on Wednesday at his office in Abuja, describing it as one of the highest safety ratings Nigeria has achieved under ICAO evaluations since 1960.

He explained that the outcome follows a comprehensive audit in which all aviation agencies and airlines operating in the country were assessed and certified safe based on the findings of the ICAO visiting team.

Speaking further, Mr Keyamo attributed the success to President Tinubu’s deliberate policy and support for the aviation industry.

The ICVM team concluded its on-site safety oversight audit in Nigeria on Wednesday after beginning its review last week.

The exercise was carried out as a follow-up to the ICAO Universal Safety Oversight Audit Programme (USOAP), conducted between August and September 2023.

Mr Keyamo had on Wednesday disclosed key federal government interventions aimed at reducing the financial pressure on airlines following rising concerns over the cost of Jet A1 fuel and the threat of service disruptions in the aviation sector.

Mr Keyamo stated that President Bola Tinubu had approved a generous discount on certain outstanding fees owed to the government by airline operators after they threatened to shut down over a 300 per cent surge in jet fuel price

He explained that the decision is part of efforts to provide immediate relief to the sector and prevent a breakdown in air transport services.

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