Emirates Airlines is among the small minority of airlines expecting to post a profit for last year, one of the most difficult periods for the industry. Emirates Airline and Group said they expected a small profit, and that any profit at all is an achievement given the billions of losses in the industry. The International Air Transport Association said worldwide losses will be in excess of $4.7bn and the Middle East is projected to lose $ 900 million (Dh3.3 billion). Both individuals and companies have decreased their travel as the financial crisis has evolved. In February passenger demand was ten per cent lower than the same period last year.