By: Amr Adel

Dubai – Mubasher: Emirates Airline on Tuesday posted a net profit of AED 8.2 billion ($2.2 billion) in the fiscal year 2015-2016, up 50% from AED 4.6 billion ($1.2 billion) in the same period last year.

The world’s largest international carrier said its passenger numbers grew 8% year-on-year to 51.9 million, while capacity increased 11%.

Despite global and operational challenges, Emirates Airline continued its success with record profits for the 28th year running, said Emirates chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum, in a press statement at the Group's headquarters.

He added that the decline in oil prices allowed the airline to save up to AED 9 billion in fuel costs during FY15-16.

The Group’s revenues were down 3% during the period to AED 93 billion ($25.32 billion), the top official revealed, noting that the government of Dubai’s share in the profits amounts to AED 2.5 billion.

Emirates Airline’s fiscal year starts on April and ends on 31 March every year.

Translated by: Nada Adel Sobhi