Dubai - Dubai's Emirates Airline said on Thursday annual profits surged 40 percent to $1.2 billion as revenues increased and fuel costs dropped.
The Middle East's largest carrier said revenues rose seven percent to $24.2 billion with passenger numbers up 11 percent to 49.3 million in the financial year 2014-15.
The company said a significant drop in the price of jet fuel had reduced operating costs by seven percent to $7.8 billion.
Fuel represented 35 percent of operating costs, down from 39 percent the previous year.
Emirates said it faced challenges including a weaker US dollar, to which the UAE dirham is pegged, as well as an 80-day runway closure at its hub for upgrading.
The airline operates the world's largest fleets of Airbus A380s and Boeing 777s.
AFP