The Hindu Business Line : Emirates H1 revenue up 41 pc

EMIRATES Airline has disclosed a net profit of $236 million (Dhs 865 million) for the first six months of the financial year 2004-05 from April 1 to September 30.

The results, based on unaudited financial figures, are Emirates' best ever for any six-month period and compared with net profits of $167 m (Dhs 612 m) during the same period of last year — a 41 per cent increase.

Strong passenger and cargo demand coupled with better yields helped to offset higher costs due to the escalating jet fuel prices, the airline said in a statement on Tuesday.

The Emirates Chairman, Sheikh Ahmed bin Saeed Al-Maktoum, said that the excellent results owe a great deal to a superb performance in the first quarter.

"In the second quarter, we started being severely impacted by the dramatic increase in jet fuel prices.," he said.

Emirates operating revenue of $2.2 billion (Dhs 8.2 billion) for the half-year represented a growth of 42 per cent compared to $1.6 billion (Dhs 5.8 billion) during the same period last year.

Emirates Sky Cargo's revenue posted a growth of 42 per cent, with cargo tonnage rising by 27 per cent to 4,01,500 tonnes (3,15,553 tonnes).