Skip to content
Subscriber Only

Emirates Earnings Jump as Gulf Carrier Rules Out Etihad Merger

  • Chairman says there have been no talks about a combination
  • Middle East markets improving as higher oil price spurs travel
Bloomberg business news
Emirates Chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum talks to Bloomberg Television.Source: Bloomberg
Updated on

Dubai’s Emirates Group reported a 67 percent jump in full-year profit and said there are no plans to merge with Etihad Airways, the Abu Dhabi airline that’s shrinking operations following a record loss.

The world’s biggest long-haul carrier boosted net income to 4.11 billion dirhams ($1.1 billion) in the 12 months ended March 31 as higher oil prices spurred a revival in Middle East travel, it said in a statement Wednesday. Sales rose 8.1 percent to 102 billion dirhams.