Emirates Airline announces record profits of Dh 3.5 bn

Emirates Group has posted a 23.5% increase in profit to Dh 3.5 ($942m) for the financial year ending 31 March 2007, its Chairman Sheikh Ahmed bin Saeed Al Maktoum, announced today. He said revenues surged 28.4% to Dh 31.3 billion ($8.5bn) by the end of March 2007 from Dh 24.2 billion ($6.6 bn) for March 2006.

The Group continued to boost its cash assets which grew by 17.8 % to reach Dh 12.9 bn ($3.5 bn). Direct contribution by the Group to the UAE economy during the fiscal year 2006/2007 stood at Dh 14.5 bn ($4bn) as compared to Dh 21.7 bn ($5.9bn) in indirect contributions. Sheikh Ahmed said the record figures were achieved by taking the airline into new markets and increasing capacity on existing routes. Source