The Global Network
More than 44.5 million passengers worldwide fly with Emirates every year. To convert this huge figure into reality Emirates’ 1500 flights depart from Dubai every week enroute destinations across 6 continents and deliver more than promised
Emirates, a name that connotes excellence ,flies to more than 120 destinations in over 70 countries and has played a key role in making Dubai as Middle East’s commercial centre and an aviation hub. It has commendably grown from being a two leased aircraft company in 1985 to a full-fledged organisation with 170 plus aircrafts. It started from a primitive airport and now shares immense profit and is rapidly expanding its fleet capacity.
Emirates is wholly controlled by the Government of Dubai, but the airlines runs on a commercial basis and is entitled to no fiscal support or protection from the government. Sailing beneficially through the highly competitive Dubai’s open sky, Emirates has successfully been able to carve a niche with utmost ease. From training to development and improved digital innovations in the aircrafts, Emirates is making its presence felt in aviation, tourism and technology through its state-of-the-art flights.
The increasing efficiency and effectiveness of Emirates has left its rivals skeptical about their global hegemony. Earlier, Emirates was flying its aircrafts to New York, Boston and other U.S. cities with a stopover at the Dubai International Airport, but recently it started non-stop flights to New York to Milan. This acted as a catalyst in the ongoing aerial battle with legacy carriers like United, Delta and American (not to mention Alitalia) and the airlines has managed to scoop out 40 percent of their premium travellers.
Emirates National Bank of Dubai, the leader in the Dubai banking world has recently been honoured as the most valuable banks in the UAE with its brand valuation reaching US$ 1.78 billion, a figure which is nearly 40 percent higher than the last year.
It ranks third amongst the competition in the Middle East and African region and is positioned 106th globally. The company’s CEO gives a credit to his entire team for the bank to be globally acknowledged as a power brand and the most valuable bank in the UAE.
Moreover, Emirates NBD is the largest banking group in the UAE unders total income and branch network. It continues to live up to its promise of delivering excellent financial and operational performance. A recent record earning of Dh5.1 billion as net profit was reported in the last financial year. The total Income of the bank for the year 2014 eventually increased by 22 percent to Dh14.4 billion and the net interest income swelled to 17 percent to Dh9.5 billion.
It is also credited to be the first bank in the United Arab Emirates to report an annual operating profit before impairment in excess of Dh10 billion. As recently stated by Sheikh Ahmed, the banks strong financial health can be governed by the operating profit, coupled with conservative provisioning. This has enabled Emirates NBD to reach 100 percent coverage ratio for impaired loans and has successfully put legacy issues behind them.
The bank is well-positioned to be on top of the success ladder for at least a decade. The group is currently operating in varied regions like the UAE, Egypt, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom and has a number of representative offices in India, China and Indonesia.