The airline has recorded a profit every year since its inception, except the second, and growth has never fallen below 20% a year. In its first 11 years, it doubled in size every 3.5 years, and has every four years since.[10] The Emirates Group announced a net profits of Dhs5 billion (US$1.37 billion) for the financial year ended 31 March 2008, a 62% increase over the previous year.It is said that Emirates airline's turnover is almost 1/5th of the Dubai's GDP. [11][12]For 2004–05, Emirates paid an increased dividend of Dhs368 tmillion to the government of Dubai, compared to Dhs329 million the year before. In total, the government has received Dhs1.1 billion from Emirates since dividends started being paid in 1999. Having provided an initial start-up capital of US$10m and an additional investment of circa US$80m at the time of the airline's inception,[13] the Dubai government is the sole owner of the company. However, it does not put any new money into it, nor does it interfere with running the airline.[10]
In the financial year 2007/2008, Emirates carried 21.2 million passengers and 1.3 million tonnes of cargo. International Air Transport Association (IATA) statistics indicate that in 2007 Emirates ranked among the top-ten airlines in the world in terms of passengers (17.54 million) carried and kilometers (71.3 million) flown in 2006/2007. In the fiscal year 2007/08, passenger seat factor increased to 79.8 per cent, up 2.6 percentage points from the previous year, led by an increase in traffic by 20.2 per cent.[6] The airline carried 21.2 million passengers in the 2007/08 fiscal year, a 21% rise from the previous year.[11]
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