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Profit at fast-growing Emirates airline soars 40 percent to $1.24 billion

Associated Press
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Sheikh Ahmed bin Saeed Al Maktoum, president of the Department of Civil Aviation, CEO and chairman of The Emirates Group and Chairman of Dubai World, fixes his head scarf, during the Financial Results News Conference at the Emirates Airline headquarters, in Dubai, United Arab Emirates, Thursday, May 7, 2015. Emirates, the Middle East's biggest airline, said Thursday it overcame the effects of temporary runway closures at its Dubai base to pull in a $1.24 billion profit, a 40 percent gain driven by the rapid expansion of its business and helped by a drop in fuel prices. (AP Photo/Kamran Jebreili) (The Associated Press)

Sheikh Ahmed bin Saeed Al Maktoum, president of the Department of Civil Aviation, CEO and chairman of The Emirates Group and Chairman of Dubai World, arrives for the Financial Results News Conference at the Emirates Airline headquarters, in Dubai, United Arab Emirates, Thursday, May 7, 2015. Emirates, the Middle East's biggest airline, said Thursday it overcame the effects of temporary runway closures at its Dubai base to pull in a $1.24 billion profit, a 40 percent gain driven by the rapid expansion of its business and helped by a drop in fuel prices. (AP Photo/Kamran Jebreili) (The Associated Press)

Sheikh Ahmed bin Saeed Al Maktoum, president of the Department of Civil Aviation, CEO and chairman of The Emirates Group and Chairman of Dubai World, listens to journalists, during the Financial Results News Conference at the Emirates Airline headquarters, in Dubai, United Arab Emirates, Thursday, May 7, 2015. Emirates, the Middle East's biggest airline, said Thursday it overcame the effects of temporary runway closures at its Dubai base to pull in a $1.24 billion profit, a 40 percent gain driven by the rapid expansion of its business and helped by a drop in fuel prices. (AP Photo/Kamran Jebreili) (The Associated Press)

The Middle East's biggest airline, Emirates, says its profit jumped 40 percent during the last fiscal year, driven by rapid expansion and helped by a drop in fuel prices.

The Dubai government-owned carrier said Thursday it earned 4.56 billion dirhams ($1.24 billion) compared with the 3.25 billion dirhams ($885.6 million) it earned a year earlier.

Sales for the year rose 7 percent to 88.82 billion dirhams ($24.2 billion).

Emirates is expanding rapidly with a primarily wide-body fleet that funnels long-haul travelers through its fast-expanding hub in Dubai.