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Wednesday, 9 November 2016

Emirates airline profits fall 75 per cent

Emirates airline profits fall 75 per cent:

 "Dubai’s national carrier Emirates airline saw net profit drop 75 per cent in its first half, hit hard by the strong US dollar and a “challenging environment for the airline and travel business.”

The fast-growing airline said the first half of its 2016-17 financial year net profit was Dh786m ($214m), 75 per cent lower than the same period last year, which was one of its best half-year performances, writes Simeon Kerr.

Revenue was down one per cent at Dh41.9bn as the US dollar – to which the United Arab Emirates dirham is pegged – strengthened against major currencies, while competition drove down average fares. Demand for travel has also been dampened by economic and security concerns, it said."



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