UNBconnect... - Emirates airline profits hit by higher fuel bill

AL afraid of Tarique’s popularity: BNP * * * Doing politics being fugitive unconstitutional: Suranjit to Tarique * * * Crisis to go thru discussion: Moudud * * * Wing of Biman aircraft catches fire during takeoff at Hazrat Shahjalal International Airport * * * Proposed agri-marketing and business law caught in red tape * * * Doing politics being fugitive unconstitutional: Suranjit to Tarique * * * US-Bangla partnership dialogue begins in city Sunday * * * 18-party calls countrywide hartal for Sunday * * * National Poet Kazi Nazrul’s 114th birth anniv Saturday

< >

Saturday, 25 May 2013

Emirates airline profits hit by higher fuel bill

Reported by: AP/UNBconnect
Reported on: May 10, 2012 13:41 PM
Reported in: Business

DUBAI, United Arab Emirates, May 10 (AP/UNB) - The parent company of the Middle East's biggest airline Emirates says its annual profit fell 61 percent as soaring fuel costs ate into increased sales.

Emirates Group posted a profit Thursday of 2.31 billion dirhams ($629.4 million) for the fiscal year ending March 31.

That compares with earnings of 5.95 billion dirhams a year earlier.

The fast growing Dubai-based carrier says it is the 24th year in a row it has turned a profit.

The government-owned company says it boosted revenue to 67.39 billion dirhams ($18.36 billion), up nearly 18 percent over the previous year.

It says its fuel bill for the year jumped 44 percent, pulling down its profits.

Bookmark with