13 May 2010

Emirates profit takes off

1:11 pm on 13 May 2010

Dubai-based airline Emirates has quadrupled its full year profit, despite a global downturn in air travel.

The airline made $US964 million in the year to March as it boosted passenger numbers by 20%, the BBC reports.

Emirates president Tim Clark says airline the expanded its network despite the global downturn, and improved margins by cutting costs.

Mr Clark says last month's six-day shutdown across Europe because of volcanic ash cost the airline about $US50 million in income.

The airline's annual fuel bill came to $US691 million, accounting for 30% of total operating costs, down from 35% last year.