These are the sort of growth numbers that the heads of Indian legacy airlines can currently only dream of.
Net profits at Emirates Airlines, the Dubai national carrier, rose 40 per cent year on year in 2014 to 4.6bn Emirati dirhams ($125bn).
Sheikh Ahmed bin Saeed Al Maktoum, chief executive and chairman of the airline, said that lower oil prices had saved the group 2bn Emirati dirhams.
Revenue for 2014 was 88.8 Emirati dirhams, up 7 per cent year on year.
Emirates is one of several Gulf carriers that are expanding rapidly, causing headaches for so-called “legacy” airlines that are struggling to reform their high cost bases.
Legacy airlines such as Air France-KLM and Lufthansa are facing the dual threat of budget carriers expanding on short-haul routes in Europe and the Gulf carriers competing to medium and long-haul destinations.
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