Emirates airline annual profit jumps 40 percent

Staff Writer
Columbus CEO

DUBAI, United Arab Emirates (AP) — The Middle East's biggest airline, Emirates, says its profit jumped 40 percent during the last fiscal year, driven by rapid expansion and helped by a drop in fuel prices.

The Dubai government-owned carrier said Thursday it earned 4.56 billion dirhams ($1.24 billion) compared with the 3.25 billion dirhams ($885.6 million) it earned a year earlier.

Sales for the year rose 7 percent to 88.82 billion dirhams ($24.2 billion).

Emirates is expanding rapidly with a primarily wide-body fleet that funnels long-haul travelers through its fast-expanding hub in Dubai.