DUBAI-BASED EMIRATES GROUP ANNOUNCED ANOTHER RECORD-SETTING PROFIT PERFORMANCE WITH NET PROFITS OF $762 MILLION FOR THE FINANCIAL YEAR THAT ENDED ON MARCH 31, 2006. Despite record fuel costs, which held the carrier's profit growth to just over 5 percent over the previous year's, the airline managed to post a full-year profit for the 18th consecutive year. Last year the airline posted net profits of $726 million, which represented an approximate 49 percent increase over 2004. Fuel made up approximately 27 percent of Emirates' expenditures last year. Fuel losses were minimized by aggressive hedging -- purchasing fuel in advance when prices are lower in anticipation of fuel prices rising -- which saved the airline approximately $189 million. Emirates Airlines remains one of the fastest growing international carriers. Last year it added eight new destinations, a number of which are in Africa. Later this year the airline will add a third daily nonstop flight to Dubai out of New York's JFK. Speaking at a briefing last week at a Dubai hotel, Emirates chief executive Sheik Ahmed bin Saeed Al-Maktoum said the airline is also considering new service to San Francisco, Chicago and Houston.