Emirates airline 2005/06 net profit up 5.8 pct
DUBAI (Reuters) - Dubai's Emirates airline announced on Wednesday a 5.8 percent increase in its net annual profit to 4 million, despite soaring fuel costs.
The airline, one of the fastest growing in the world, said fuel costs in the financial year ended March 31 accounted for 27 percent of operating costs, compared with 21 percent in the previous year.
"It has been another tough year, with pressure from fuel costs continuously dampening our robust net income," said Sheikh Ahmed bin Saeed al-Maktoum, chairman of Emirates Group, which owns the unlisted carrier.
Sheikh Ahmed told reporters he expected Emirates to post a 13 percent increase in its 2006/07 net profit.
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