Emirates profit surges more than 63% amid expanding fleet
DUBAI (AP) - The parent company of Dubai-based carrier Emirates said on Monday that operating profit for the first half of the year surged by more than 63 per cent as the Middle East's biggest airline expanded routes and benefited from stabilising fuel prices.
Emirates Group said operating profit rose to 2.37 billion dirhams (S$790 million) for the first half of this year compared to 1.449 billion dirhams in the same period last year.
The 63.6 per cent jump is a strong rebound after a sharp drop in profit for the fiscal year ending Mar 31 due to rising fuel costs. The company was also helped by less volatility across the wider Middle East after last year's Arab Spring uprisings disrupted flight schedules.
Emirates Group includes Emirates airline and other businesses such as cargo operations and the travel service Dnata.