A New High Flyer

Most of the world's airlines are cash squeezed, but Emirates is rolling in it

Chris Hondros / Getty

Dreams are sweet on Emirates Airlines, with beds that fold out flat.

Once upon a time, when Maurice Flanagan was working at the airport in Nairobi, wet weather meant one thing: it was time to jump into his car and drive quickly up and down the clay runway. If his wheels got stuck, he would wave off any approaching airplane. He has come a long way. Now vice chairman and group president of Dubai-based Emirates Airlines, Flanagan is in charge of the globe's 14th largest and fifth-most-profitable airline. Under his watch, the once tiny, government-owned Emirates Airlines has been transformed, growing more than 20% a year for the past 17 years. It posted...

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