Emirates says oil prices to cost $500m

20 August 2008

Emirates airline President Tim Clark said rising oil prices will cost the carrier about $500m this year, reported Reuters. Clark said profits this year should rise by about $500m, but the rise in fuel prices will cost the airline more or less the same amount. He also said he sees oil prices falling to between $65 and $85 a barrel around the middle of 2009. In an interview with the newspaper Tim Clark also repeated the company was not interested in ailing Italian carrier Alitalia or in Austrian Airlines

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