Emirates Profit Jumps 77% Amid Job Cuts, Reduced Dollar Impact - Bloomberg:
"Emirates Group boosted first-half profit 77 percent as the biggest long-haul airline cut jobs and benefited from a more stable dollar as it seeks to recover from its first annual earnings decline for five years.
Net income increased to 2.3 billion dirhams ($630 million) in the six months ended Sept. 30, with sales advancing 6 percent to 49.4 billion dirhams, the Dubai-based company said in a statement Thursday.
Emirates has been grappling with the toughest operating conditions in a three-decade history that’s seen it become an industry heavyweight by exploiting the position of the Gulf at a natural crossroads for inter-continental flights. The carrier has reduced the payroll by 3,000 people in six months, eliminating some senior cabin crew, support staff and IT workers, and has begun charging for perks such as advance seat selection in a bid to boost revenue."
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