Emirates, the giant Dubai-based airline, reported annual net profits more than doubled from a year earlier.
It said Wednesday that net profit for the financial year ending March 31 soared to 2.8 billion dirhams ($762 million), as the airline benefited from favorable currency exchange rates and an uptick in passengers carried.
However, a dramatic rise in oil prices over recent months was cited as a drag on the company's latest figures.
"It's a commodity that we cannot control but of course this year it was something like about 28 percent of our total costs was the fuel. So we will always manage and I think we have a very talented team who work on this all the time." Emirates Group CEO and Chairman, Sheikh Ahmed bin Saeed Al Maktoum, told CNBC's Arjun Kharpal on Wednesday.
When asked whether there was a specific oil price which would be of particular concern, Al Maktoum replied: "If you tell me, I always want the lowest price but it is the market that will determine that."