Emirates' profits to be hit by oil prices

02 September 2008

Shaikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airlines, said the effects of high oil prices are likely to be strongly felt by the carrier, which is due to post profits in April, reported Khaleej Times. He said the 'uncontrollable impact' of oil prices will affect the airline's profits, but the exact impact remains to be seen. The airline had earlier forecast to make profits of $1.5bn in 2008-09. Emirates made a net profit of over $1.37bn in 2007-08.

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