Fuel costs curb Emirates's profits

30 October 2008

A senior official at Emirates Airlines said the carrier is likely to post little or no profit for the past six months due to high fuel costs, reported The National. Keith Longstaff, the divisional senior vice president of commercial operations worldwide at Emirates, said the carrier is not going to post a loss, but is not going to see too much of a profit, either. Last year the airline earned $1.37bn in net profits. The carrier's prospects are looking brighter because fuel prices have fallen dramatically, he added, but there is now concern that the global financial crisis could replace oil as the major challenge to airlines.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications