Emirates group reports 43 percent profit rise - msnbc.com

The head the Emirates airline group says annual profit rose nearly 43 percent despite rising fuel prices that cut into the bottom line.

Although the gains are significant at the Middle East's largest carrier, they are far smaller than last year's nearly 250 percent net profit jump at the Emirates group, which includes the airline, a cargo unit and other services.

Sheik Ahmed bin Saeed Al Maktoum told reporters Tuesday that net profit at the Dubai-based carrier rose to $1.6 billion, up just shy of 43 percent.