Emirates in record profit of £1.3bn

Emirates Airline, founded in 1985, reported a record net profit of £1.31 bn ($1.9bn) for 2015-16, a robust performance despite negative effects of strong US dollar, economic slow-downs in oil-producing countries.

For the year up to March 31, Emirates have reported a net profit of  £1.31bn (Dh7.1bn) up 56 per cent compared with 2014-15, as its fuel bill fell by 31 per cent.

Sheik Ahmed Bin Saeed Al Maktoum, the Emirates chairman, said the oil price fall was a “ double-edged sword”  – good for operating costs, but bad for business and consumer confidence”.

Sir Tim Clark, the Emirates President, said  that Our airline has successfully managed to open new routes to US destinations despite a call from US carriers for Washington to restrict its access. Emirates flew 51.9m passengers in 20015-16 up 6 per cent.