Emirates Profits Jump 67 In One Year
Emirates Group announced a significant boost in profits in its yearly earnings report released Wednesday.The Dubai-based airline group’s net income jumped to $1.1 billion, a 67% increase in the 12 calendar months that ended March 31. Sales were also up 8.1%.The airline group was able to bolster its bottom line partly in thanks to higher oil prices in the Gulf region, Emirates said in its report. Even though higher oil prices meant higher operating costs for the carrier, “it also stoked the embers of economic recovery which contributed to better seat load factors and a modest climb in yields,” its financial report said....