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Emirates Airline reports record 65 pct surge in net profit

Xinhua, November 5, 2015 Adjust font size:

Emirates Airline said Thursday its net profit soared a record 65 percent year-on-year in April-September, reaching 3.1 billion dirhams (849 million U.S. dollars).

The first half of the airline's 2015-2016 fiscal year represented one of its best six-month periods ever, the carrier said in an e-mailed statement.

Emirates Airline, entirely owned by the government of Dubai, attributed the rapid growth in profit to lower fuel prices and its efforts in attracting customers, "despite challenges... such as ongoing regional unrest, economic malaise in several regions plus increased competition which negatively affected revenues."

Emirates said that fuel prices were 41 percent lower compared with the same period last year.

Fuel remains the most integral part of the airline's expenses, accounting for 28 percent of operating costs, compared with 38 percent in the first half of the 2014-2015 fiscal year, the statement said.

The airline's parent company, Emirates Group, said its net profits grew by 65 percent, reaching 3.7 billion dirhams (1 billion dollars).

The Emirates Group now serves nearly 150 destinations across the world. Endit