Emirates profit takes a hit from strong USD and tougher competition
Emirates Airlines reported a 75% drop in profit in 1H16 owing to a strong USD and tougher competition. The carrier reported a profit of AED786mn for the half ending 30 September. Increased competition and political and economic uncertainty in many parts of the world had dampened prices and travel demand, Emirates Chairman Sheikh Ahmed bin Saeed al-Maktoum said in a statement. Emirates said profit for the wider group, which includes airline services arm Dnata, fell 64% to AED1.3bn. (Reuters)
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