Emirates airline reports 62 per cent rise in profit
By Saifur Rahman, Business Editor
Published: April 30, 2008, 11:45
Dubai: Emirates airline experienced a 62 per cent rise in profit in the fiscal year of 2007/2008, the carrier reported on Wednesday.
Despite rising fuel costs, profits at Emirates hit the Dh5 billion mark in the fiscal year up to March 31, Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Group said.
Overall profit for Emirates Group rose 54.1 per cent, representing a Dh47 billion contribution to Dubai’s economy. This figure stands for almost a quarter of the GDP.
Emirates Group’s revenue in 2006 was Dh31.1 billion, but now stands at Dh41.2 billion.