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Emirates post strong profits

Dubai-based Emirates has announced net
profits of Dhs 922 million (US$251 million) for the first six months of the
financial year 2005-06, from 1st April to 30th September.The unaudited results, up seven per cent compared to Dhs 865 million ($236
million) achieved in the same period last year, reflect a strong revenue
performance driven by robust passenger and cargo demand, and better yields,
which softened the impact of high fuel prices on operating costs.

Emirates’ Chairman, HH Sheikh Ahmed bin Saeed Al-Maktoum, said: “Emirates
has delivered an excellent half-year result despite the fact that fuel cost
rose 84 per cent compared to the first six months of our last financial
year. This robust half-year performance reflects strong revenue growth, and
it also demonstrates the company’s resilience and adaptability to new
challenges in the operating environment.”

Sheikh Ahmed added: “While high fuel prices remain the single largest threat
to Emirates’ achievement of its financial goals, the airline is confident in
the future of the air transport industry.


“Emirates has continued to expand, adding capacity and introducing new
services to meet the increasing demand for air travel services from our
customers. We are also investing in leading-edge facilities to support our
rapidly growing fleet. This includes a new jet engine test facility and an
engineering centre that will be one of the world’s largest civil aviation
maintenance centres when complete.”