Emirates annual profit jumps 52% to $622m

Dubai's Emirates Airline said on Thursday it posted $622 million in annual net profits in 2012-2013, a 52 percent boost on the previous year, as passenger numbers exceeded 39 million. The carrier's profit was "at AED 2.3 billion ($622 million), representing an increase of 52 per cent over last year's results," Emirates said in a statement. Emirates Group as a whole, which also includes Dnata travel services, posted 3.1 billion dirhams ($845 million) in net profit, with total revenues increasing 17 percent to a record of 73.1 billion dirhams ($19.9 billion), it said. "Achieving our 25th consecutive year of profit... with our largest ever increase in capacity across the network is an achievement that speaks to the strength of our brands and our leadership," said the Emirates chairman, Sheikh Ahmed bin Saeed al-Maktoum. The Middle East's largest airline, which has become a major carrier between Europe, Asia and Australia, transported 39.4 million passengers, 16 percent up from the previous year. The carrier's fuel bill also increased 15 percent over the last year to reach $7.6 billion, the statement said.