Dubai’s Emirates expects to significantly reduce losses in the current financial year and return to profit next year, the airline’s president indicated on Tuesday.

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“We are in for a good set of results, we haven’t reversed it completely but we have swung it,” Tim Clark told reporters, adding the carrier had been cash-positive since October.

“We are forecasting profits next year and hopefully to pay a dividend and repay some of the equity that the government has put into the business,” he added.

The carrier’s financial year runs to end-March.

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