It was another record year for the group, though the net profit was impacted in the second half by the continuing high cost of jet fuel, with oil hovering in the US$90 per barrel range. Despite our risk management programmes, the increased fuel cost made a big dent in the second six months, although the impact was partly offset by other operating gains.

The Emirates Group returned its 20th consecutive net profit of US$1.45 billion (AED 5.3 billion) with a turnover of US$11.2 billion (AED 41.2 billion). Emirates' net profit was US$1.37 billion (AED 5.02 billion), while Dnata's net profit was US$83 million (AED 305 million).