Emirates airline year profit up five-fold

* Airline sees double digit growth in 2010-2011 - CEO

* Carrier expects to announce more aircraft orders

Defense News: DUBAI, May 12 (Reuters) - Emirates airline, the Arab world's largest carrier, reported a five-fold rise in full-year profits on Wednesday and said it expected passenger and cargo volumes to grow this year.

The Dubai-based airline had a net profit of 3.5 billion dirhams ($952.9 million) in the year ended March 31, up from 686 million dirhams in the prior year.

"The group will continue to achieve double digit growth through 2010-2011," Sheikh Ahmed bin Saeed al Maktoum, Emirates chairman and chief executive, told reporters.

The airline, which has $55 billion in equipment orders with Airbus (EAD.PA) and Boeing (BA.N), said it would take delivery of seven additional A380s and one Boeing 777 in 2010-2011.

Sheikh Ahmed said the airline planned to announce new aircraft orders, likely at the Farnborough airshow, and was in talks with both manufacturers.

Middle Eastern airlines saw the highest growth rate of 11.2 percent in air passenger traffic for 2009, and their peers in other parts of the world are expected to post total 2010 losses of $2.8 billion, according to industry body International Air Transport Association (IATA). ($1=3.673 Uae Dirham) (Reporting by Tamara Walid; Writing by Amran Abocar; editing by Karen Foster)

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