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Emirates airline 1st-half profit more than doubles15 days ago
(AP:DUBAI, United Arab Emirates) Emirates airline says its fiscal first-half profit more than doubled as it cut costs and benefited from lower fuel prices.
The Mideast's biggest airline said Thursday profit for the six months through September rose to 752 million dirhams ($204.9 million) from 284 million dirhams ($77.4 million) during the same period a year earlier.
Revenue slipped, however, by almost 14 percent to 19.8 billion dirhams (US$ 5.4 billion) because of lower ticket prices and freight costs.
Looking ahead, the carrier's chairman and CEO says it could be another year or two before demand for air travel picks up again.
Dubai-based Emirates ranks among the world's biggest international passenger and cargo carriers.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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