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Emirates H1 profit jumps 165 pct; cautious on outlook

Thu Nov 5, 2009 5:23am EST

DUBAI, Nov 5 (Reuters) - Emirates [EMAIR.UL], the Arab world's largest airline, said on Thursday its net profit rose 165 percent for the first half of its financial year, but warned air traffic demand was unlikely to pick-up for at least another year or two.

"The months since the global meltdown have really tested our mettle," Emirates chairman Sheikh Ahmed bin Saeed Al-Maktoum said in a statement.

"While some say the green shoots of economy recovery are sprouting, we expect it will take at least another year or two, before demand for air transport and travel services starts picking up again."

The airline said profit in the first half of its financial year which ends Sept. 30 was 752 million dirhams ($204.7 million) from 284 million dirhams in the year earlier period.

(Reporting by John Irish; editing by Amran Abocar)



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