Emirates' annual profit jumps 52% to $622 mn

Dubai's Emirates Airline said today it posted $622 million in annual net profits in 2012-2013, a 52% boost on the previous year, as passenger numbers exceeded 39 million.

The carrier's profit was "at AED 2.3 billion ($622 million), representing an increase of 52% over last year's results," Emirates said in a statement.

Emirates Group as a whole, which also includes Dnata travel services, posted $845 million in net profit, with total revenues increasing 17% to a record of $19.9 billion, it said.

"Achieving our 25th consecutive year of profit... With our largest ever increase in capacity across the network is an achievement that speaks to the strength of our brands and our leadership," said the Emirates chairman, Sheikh Ahmed bin Saeed al-Maktoum.

The airline, which has become a major carrier between Europe, Asia and Australia, transported 39.4 million passengers, 16% up from the previous year.

The carrier's fuel bill also increased 15% over the last year to reach $7.6 billion, the statement said.