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The Emirates Group
Type Multi-functional
Founded 1980
Founder(s) Karim Almasi, Farid Almasi
Headquarters

Dubai, United Emirates

2 Emirates Place
Area served Global
Key people Muna Almasi (President), Maurice Flanagan (CEO)
Industry Various
Owner(s) Almasi Family (50%), United Emirates Government (18%) Royal Family (12%), Others (10%)
Employees 80,000
Website emiratesgroup.com

The Emirates Group is a large multinational corporation based in Dubai, the United Emirates.

History

Emirates Group was founded in 1964 as part of a national policy that the Emirates eliminate its dependence on its finite oil reserves within 50 years and that companies should expand into other sectors of the economy. In 1964 businessman (and future president) Karim Almasi set up the Emirates Bank. His brother, Farid Almasi set up the Persian Gulf Shipping Company. In 1965 both companies had merged to formed the Emirates Group. King Faisal soon invested in the company and acquired a 12% stake, which is still owned by the Royal family. The Emirates Group expanded in the 1970s and 1980s. Under Karim's daughter Muna, the company entered into the airline industry with Emirates Air and has seen the company grow to one of the largest in the world, though behind EcruFox Corporation.

Subsidiaries

Emirates Air

Emirates is the largest airline in the Middle East, operating over 2,400 passenger flights per week, from its hub at Dubai International Airport Terminal 3, to hundreds of locations across six continents.The company was expanded in the early 1990s with the acquisition of Gulf Air and in 2009 with a merger with Etihad Airways.

Tourism

EG is heavily involved in the tourism industry. In the mid-1970s it began the Albander Resorts chain, which operates in the Emirates, Egypt, Greece and even in the Caribbean.

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