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Emirates Posts Record YearApril 26, 2006 By: Susan Young Travel Agent
The Emirates Group achieved a record annual performance, with net profits of $762 million for the financial year that ended March 31; that is up 5 percent from the previous year's record profits of $726 million. The airline said its sales growth and record returns reflect customers' increasing preference for its products, as illustrated by the 2 million more passengers who flew Emirates in the latest financial year, for a new record total of 14.5 million. The airline said, however, that the year had been tough, with pressure from fuel costs continuously dampening its net income production. Fuel costs remained the top expenditure accounting for 27.2 per cent of total operating costs, up from 21.4 percent the previous year.