Emirates 'to announce profits'


Emirates, the Dubai-based national flag carrier, is set to announce a substantial profit in its consolidated balance sheet for the year 2001-2002, on April 30, a report said.

The airline had recorded a net profit of Dh168.1 million ($45.77 million) for the first six months of 2001, which ended on September 30.

After September 11, when top players in the aviation industry were cutting jobs, slashing operations, Emirates had surprised the industry with $15 billion purchase orders.

And now, Emirates would announce its financial statement which according to its Director Commercial Operations Ghaith Al Ghaith "will surprise everyone."

With an enviable average load factor of 85 per cent this year, the carrier not only announced its plan to open up five new routes across the globe, it is also well poised to cross the Atlantic next summer with its long-haul aircraft, flying to at least three major North American destinations, starting with New York.