One of the most difficult things to explain in the airline business is the runaway success of Emirates Airline.
At a time when the developed world is still reeling from the global downturn, the airline made US$1.5 billion (Dh5.5bn) in profits for the past financial year.
How did it do this when Middle East airlines overall were forecast to collectively make only $700 million? And how did it manage this feat when the other large Gulf carriers have not publicly disclosed any annual profits?
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