Middle Eastern airline giant Emirates has announced its half-year profits ending in September. The report reveals that where revenues have risen by over a third, profits have more than quadrupled. Compared with the same period last year, cargo tonnage has increased by 23.7 per cent and passenger numbers are up by 17.3 per cent.

Revenues for the six months have increased to 26.4 billion dirhams, up 35 per cent on the same period last year. Total profits for the half-year have risen from 752 million dirhams in 2009 to 3.4 billion dirhams (£575 million).

Chief executive of Dubai based Emirates, Sheikh Ahmed bin Saeed al-Maktoum, shrugged off claims that the airline’s profits were a direct result of massive government support by saying that the airline is simply continuing to use its profits to support the businesses growth. This year Emirates placed firm orders for 30 Boeing 777s and 32 Airbus A380 super jumbos.

Pierre-Henri Gourgeon, chief executive of Air France, hit out at Emirates last month by claiming that the carrier, as with other airlines in the Gulf states, was receiving unfair financial help from governments. He added that Emirates was benefitting from low fuel taxes and low airport fees at its hub in Dubai.

Sheik Saeed al-Maktoum, commenting on the recent results, said Emirates was in an extremely healthy financial position and it was this that gave the airline the ability to secure further investment to place orders for new aircraft as well as meet all current financial obligations.