Business

Emirates’ A380 network expansion gains momentum as travel demand continues to rise

Published

2 years ago

2021/09/29

In line with the continued easing of travel restrictions around the globe, Emirates has announced that its flagship A380 aircraft will soon be deployed to an expanded list of destinations starting in October and November. By the end of November, the number of cities that the aircraft will serve will be scaled up to 27, representing a more than 65% increase from its current 16.

The Emirates A380 remains highly sought-after by travelers for its spacious and comfortable cabins featuring modern amenities to make the journey a memorable experience. The airline is gradually and responsibly deploying its popular aircraft in sync with passenger demand as the travel industry continues on its path to recovery. With the addition of 11 routes to the A380 network by November, as well as extra frequencies on the most popular ones already being served by the aircraft, Emirates is poised to offer close to 165,000 additional A380 seats to customers.

Fans of the popular double-decker aircraft will soon see more in the skies as an increasing number of A380s are returned to service, taking flight to operate routes where it is commercially viable to deploy them. Over the next six weeks Emirates will re-instate its signature A380 services to popular leisure and business destinations such as Amsterdam, Barcelona, Dusseldorf, Hamburg, Johannesburg, Madrid, Milan, Riyadh (subject to government approvals), Sao Paulo and Zurich.

Emirates will also introduce a new route to its A380 network that was previously not served by the world’s largest commercial aircraft. The flagship aircraft’s services to Istanbul are scheduled to launch on 1 October, set to become the first-ever A380 operation in Turkey.

As the world’s largest operator of the A380 aircraft, the airline’s total fleet of A380s will reach 118 by year-end, including six aircraft equipped with Premium Economy seats in a 4-class configuration. The airline currently flies to over 120 cities, representing 90% of its pre-pandemic network, and plans to restore 70% of its capacity by the end of the year are on track with the return to service of more than 50 A380 aircraft.

In addition to signifying the airline’s continued commitment to and confidence in the A380, Emirates is scaling up of operations across its global network to meet the surge in customer demand to Dubai as well as other destinations that allow quarantine-free entry for specific nationalities and vaccination status. Dubai safely welcomed over 4 million overnight leisure and business visitors since it reopened in July 2020 and with Expo 2020 Dubai just ten days away, the city is preparing to welcome visitors for the world’s largest gathering and highly-anticipated event which will include a rich line-up of themed weeks, entertainment, workshops, live shows as well as country pavilions and special installations to get a glimpse of the future.

The Emirates A380 experience has remained a long-time favourite amongst travel enthusiasts, loved for its extra legroom and comfort and the industry’s largest screens for customers across all cabins to enjoy the airline’s extensive selection of content on its award-winning in-flight entertainment system, ice. Customers travelling in premium cabins continue to return again and again when making travel plans, for its signature features such as the popular Onboard Lounge and fully flat seats in Business Class, as well as private suites and Shower Spas in First Class.

In December 2020, Emirates introduced its first A380 aircraft in 4-class configuration, featuring Premium Economy. By November this year, the airline will have six aircraft equipped with the seat offering and new-look cabin interiors.

Keeping the health and wellbeing of its passengers as top priority, Emirates has introduced a comprehensive set of safety measures at every step of the customer journey. The airline has also been building on its contactless technology offering and has scaled up its digital verification capabilities to provide its customers even more opportunities to utilise the IATA Travel Pass.

Emirates continues to lead the industry with innovative products and services that address traveller needs during a dynamic time. The airline has taken its customer care initiatives further with even more generous and flexible booking policies, an extension of its multi-risk insurance cover, and helping loyal customers retain their miles and tier status.

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Business

NSB Chairman hands over annual report to President

Published

1 hour ago

2023/06/2

Priyan

Dr. Harsha Cabral, Chairman of the National Savings Bank, formally presented the bank’s annual report for the year 2022 to Minister of Finance, Economic Stabilization & National Policies President Ranil Wickremesinghe at the Presidential Secretariat on Thursday (01).

The report, titled “Strengthening Our Strength,” provides an integrated overview of the bank’s performance within the economic framework and its engagements with the social and environmental sectors.

Business

The Central Bank of Sri Lanka relaxes its Monetary Policy stance

Published

14 hours ago

2023/06/1

Priyan

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 31 May 2023, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 250 basis points to 13.00 per cent and 14.00 per cent, respectively.

The Board arrived at this decision with a view to easing monetary conditions in line with the faster than expected slowing of inflation, gradual dissipation of inflationary pressures and further anchoring of inflation expectations. The commencing of such monetary easing is expected to provide an impetus for the economy to rebound from the historic contraction of activity witnessed in 2022, while easing pressures in the financial markets.

Business

‘Damro-revived Agalawatte Plantations in impressive start to 2023’

Published

23 hours ago

2023/06/1

Sahan Weerasooriya

* Q1 Revenue grows 49.7% to Rs 1.489 billion

* Pre-tax profit up 44.6% to Rs 417.2 million

* Major investments in replanting of rubber and tea to continue in 2023

Agalawatte Plantations PLC (APL) has reported impressive revenue and profit growth in the first quarter of 2023, consolidating on the remarkable turnaround achieved subsequent to the acquisition of a majority stake in the Company by the Damro Group.

Revenue grew by 49.7% to Rs 1.489 billion for the three months ending 31st March 2023, with revenue from tea doubling to Rs 796.2 million over the first quarter of 2022, and revenue from oil palm up 57.5% to Rs 305.1 million. Rubber contributed Rs 216.9 million to the Company’s top line in the quarter reviewed.

Stable tea prices and an increased oil palm crop enabled APL to post pre-tax profit of Rs 417.2 million for the three months, reflecting growth of 44.6%. Total assets grew by 21.2% since end 2022 to Rs 6.448 billion as at 31st March 2023, and the Company’s net assets value per share improved by 23.5% to Rs 26.09.

Nalaka Gunathilake, Managing Director / CEO of Agalawatte Plantations described the growth achieved in the first quarter of 2023 as extremely encouraging in the context of the Company’s achievement of net profit of Rs 1.76 billion for the year ended 31st December 2022, the highest profit in its history.

Once debt-ridden and at risk of liquidation, Agalawatte Plantations became part of the Damro Group in 2017 when the latter acquired the majority stake in the Company and infused Rs 3.2 billion for the payment of unsettled dues and statutory obligations. Timely investments in replanting, factory modernisation, redefining strategic focus and leadership transformed the Company into the strong corporate it is today, Gunathilake said. Good management practices together with agricultural inputs and professional human resources management policies too played pivotal role in this turnaround.

APL produces around 2 million kgs of latex annually and the company has facilities to manufacture Latex Crepe, Ribbed Smoked Sheets (RSS) and Centrifuged latex depending on the demand in the market. The Company’s tea production is around 2 million kgs per year and this volume is expected to increase with the availability of chemical fertilizer and agrochemicals in the country. APL also produces more than 11 million kgs of oil palm crop annually, generating substantial returns for the Company.

With the Company’s acquisition by Damro Group a strategic management decision was taken to prioritise replanting across all estates under APL management. An extent of over 2,600 acres of aged and uneconomical rubber land has since been replanted with high yielding clones to ensure company’s productivity and sustainability in the years ahead.

The Company disclosed that a further extent of over 1,000 acres is to be replanted in 2023 and land preparation and preliminary work in these areas has already commenced. In order to support the company’s ambitious rubber replanting programme, Agalawatte Plantations has its own network of rubber nurseries and has established 400,000 seedlings in six regional nurseries to supply healthy and vigorous plants.

Between 2017-2022, an extent of over 263 acres of tea has also been replanted and the preliminary work on another 150 acres has been commenced in 2023. Five tea nurseries with 900,000 plants will supply the requirement of high yielding vigorous tea plants for the replanting programme.

APL said it is gearing up for a new phase of growth in the tea plantations by obtaining system and quality management certifications. The company has obtained the Rain Forest Alliance (RA) certification for its upcountry tea estates while all tea manufacturing facilities have obtained the ISO 22000 Food Safety Management System certification.