Emirates is in the middle of an expansion drive that will see it taking delivery of a new plane each month for the next seven years. It added nine aircraft in 2004-2005, taking the fleet to 75 at the end of the year.
Sheikh Ahmed bin Saeed al-Maktoum, chairman of Emirates Group, said the airline benefited from having its base at the region's busiest airport, Dubai International.
Passenger numbers increased 20 percent to 12.5 million, he said.
Higher fuel costs dented profits, however, and will continue to pose a challenge during the current financial year, he said.
"Had fuel prices stayed at the levels