Long-haul carrier Emirates reports record annual profit of $5.2 billion

DUBAI, United Arab Emirates (AP) - Long-haul carrier Emirates reported on Thursday that it earned annual profits of $5.2 billion, making it one of the world's most-profitable airlines.

The Dubai-based carrier served 53.7 million passengers out of its hub of Dubai International Airport.

The overall Emirates Group, owned by Dubai's sovereign wealth fund, saw annual profits of $5.6 billion.

Emirates serves as a crucial link in East-West travel and is the crown jewel of what experts and diplomats refer to as "Dubai Inc." - a series of interconnected companies overseen by the sheikhdom's ruling Al Maktoum family.