Emirates warns of tough six months ahead as profit drops | ZAWYA MENA Edition:
Emirates said on Thursday it will face tough conditions over the next six months after the airline reported an 86 percent drop in first-half profit.
Higher fuel costs and unfavourable currency exchange rates eroded profits for the state-owned Middle East airline, which warned earlier this week earnings were being squeezed.
Dubai-based Emirates, one of the world's biggest international carriers, made a net profit of 226 million dirhams ($62 million) in the six months to Sept. 30, down from 1.7 billion dirhams a year earlier. Revenue rose 10 percent to 48.9 billion dirhams.
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