Emirates Group's dnata eyeing M&A deals
ROADS & HIGHWAYS

Emirates Group's dnata eyeing M&A deals

The CEO of dnata, part of the Emirates Group, mentioned that they were exploring merger and acquisition (M&A) opportunities in various industries and regions, including South America. He stated that they were in discussions with approximately 40 companies at any given time, with numerous deals nearing finalization. Chief Executive Steve Allen informed Reuters that their focus primarily lay on acquiring small to medium-sized businesses.

He emphasised South America as a significant growth market, highlighting countries like Brazil. Additionally, he remarked on the potential for consolidation in airport ground handling services on a global scale.

Established in 1959, dnata operates as a sister company to Emirates airline, offering services such as catering to airlines and handling baggage and cargo. They also manage businesses involved in selling holiday packages and providing travel booking services for retail and corporate clients. According to the Emirates Group's annual report released, dnata's profit for the fiscal year ending on March 31 increased more than fourfold to $381.2 million.

The surge in revenue, which rose by nearly 30% to 19.2 billion dirhams, was attributed to increased flight operations and global travel. Allen informed journalists that these results were partly due to long-term contracts renegotiated by dnata, accounting for higher labour and food expenses.

Regarding the recent severe storm in the United Arab Emirates, which disrupted operations at Dubai's airport and led to numerous flight cancellations, Allen stated that the financial impact was relatively minor. However, any effects would be reflected in their current fiscal year, which commenced in April.

The Emirates Group announced a 71% increase in annual profit, reaching a record 18.7 billion dirhams, and declared a dividend of 4 billion dirhams for its owner, Dubai's sovereign wealth fund ICD.

The CEO of dnata, part of the Emirates Group, mentioned that they were exploring merger and acquisition (M&A) opportunities in various industries and regions, including South America. He stated that they were in discussions with approximately 40 companies at any given time, with numerous deals nearing finalization. Chief Executive Steve Allen informed Reuters that their focus primarily lay on acquiring small to medium-sized businesses. He emphasised South America as a significant growth market, highlighting countries like Brazil. Additionally, he remarked on the potential for consolidation in airport ground handling services on a global scale. Established in 1959, dnata operates as a sister company to Emirates airline, offering services such as catering to airlines and handling baggage and cargo. They also manage businesses involved in selling holiday packages and providing travel booking services for retail and corporate clients. According to the Emirates Group's annual report released, dnata's profit for the fiscal year ending on March 31 increased more than fourfold to $381.2 million. The surge in revenue, which rose by nearly 30% to 19.2 billion dirhams, was attributed to increased flight operations and global travel. Allen informed journalists that these results were partly due to long-term contracts renegotiated by dnata, accounting for higher labour and food expenses. Regarding the recent severe storm in the United Arab Emirates, which disrupted operations at Dubai's airport and led to numerous flight cancellations, Allen stated that the financial impact was relatively minor. However, any effects would be reflected in their current fiscal year, which commenced in April. The Emirates Group announced a 71% increase in annual profit, reaching a record 18.7 billion dirhams, and declared a dividend of 4 billion dirhams for its owner, Dubai's sovereign wealth fund ICD.

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?