Full-year profit at Emirates, one of the world's fastest growing airlines, plunged 80.4 per cent as oil prices skyrocketed to an all-time high of $147 a barrel, the company said.

Net profit for the fiscal year to March 31 sank to 982 million dirhams ($268 million) from 5 billion dirhams ($1.4 billion) a year earlier, Emirates said in a statement.

Revenues, however, jumped 9.9 per cent to 44.2 billion dirhams ($12 billion dollars) from 40.2 billion dirhams ($11 billion dollars) the previous year after it added more destinations and attracted more passengers.

The Dubai-based airline carried 22.7 million passengers, up 7.1 per cent year-on-year, as it launched exclusive routes between the Gulf and destinations such as Los Angeles and San Francisco.

Its parent, Emirates Group, posted a 72-per cent profit decline, while its revenue rose 10.4 per cent year-on-year, the company said.

Rival international airline British Airways on Friday unveiled a loss after tax of £375 million ($590 million) for the 12 months to March after net profit of £712 million in the year to March 2008.