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Wednesday, 7 June 2017

Emirates president pledges to ‘tough it out’ as airline struggles

Emirates president pledges to ‘tough it out’ as airline struggles:

"Sir Tim Clark is sombre. Over the past decade, Emirates Airline has become one of the most powerful forces in global aviation. Competitive pricing, superior service and its prime geographic position has seen the Gulf’s biggest carrier inflict financial pain on long-haul airlines in the US, Europe and Asia. But today it is the one facing pain. The economic slowdown in the Gulf triggered by the oil price collapse almost two years ago has sharply cut travel demand in the region. Its geography is no longer a positive, with the region facing overcapacity, while new US travel restrictions alongside the laptop ban have hit traffic further. Uncertainty also surrounds the severing of diplomatic ties and transport links by the United Arab Emirates, where the Dubai airline is based, Saudi Arabia, Egypt and Bahrain with nearby Qatar over claims the Gulf state is fuelling extremism and terrorism. This is likely to hit Qatar Airways hardest, but it could have a negative knock-on effect on the region’s economy and Emirates’ business too. "

'via Blog this'