Emirates has launched low-cost international airfares.

International airline Emirates has cut the cost of its airfares to 22 destinations within Europe and 14 in the Middle East.

The reduced fares – some of which are up to 50% off the usual ticket price – are valid for travel from 20 April to 30 November 2009. Bookings must be made before 20 April 2009.

Emirates recently posted record financial results for the year ending March 2008, with net profits of US$1.45 billion – up more than 32% on the previous year. However, it has followed the example of Singapore Airlines, Qantas and British Airways, which have also cut ticket prices in an effort to encourage people to fly with them.

According to the latest figures from the International Air Transport Association (IATA), overall passenger numbers are down – more than 10% when comparing February 2009 traffic figures with the same month last year.

Speaking at the time when the figures were released, Giovanni Bisignani, IATA’s Director General and CEO, commented: “This is not just an airline crisis. Efficiency must be a priority for the entire value chain. The priority for airlines around the world is survival - conserving cash and adjusting capacity to match demand. This means re-sizing and re-shaping the industry to deal with the US$62 billion (12%) fall in revenues expected this year. Airlines will be making some tough decisions to stay afloat as we head for industry losses of US$4.7 billion in 2009.”

Launched in 1985, Emirates is the official international airline of the United Arab Emirates. It flies to more than 100 destinations and accounts for almost 40% of all air traffic movement in and out of Dubai International Airport.