Emirates Airline sees full-year profits slump on external factors
A combination of geo-political and macroeconomic factors brought about a sharp reduction in earnings at Emirates Airline in the 2016-17 financial year, the carrier reported May 11. Net profit dropped 82.5% compared to 2015-16, at AED1.25b (US$340m) compared to net profit of AED7.13b last year. Revenue for the period was static at AED85b. Emirates Group chairman & CE Ahmed bin Saeed Al Maktoum said the aviation and travel markets were notoriously vulnerable to social, economic and political events and “for us, this year has been a particularly testing one.” He cited a combination of global terrorist attacks, the attempted coup in Turkey, the UK’s vote to leave the EU and the election of US president Donald Trump. He said the last of these factors, in particular, had affected Emirates. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-12/unaligned/emirates-airline-sees-full-year-profits-slump-on-external-factors
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Emirates Airline sees full-year profits slump on external factors
A combination of geo-political and macroeconomic factors brought about a sharp reduction in earnings at Emirates Airline in the 2016-17 financial year, the carrier reported May 11. Net profit dropped 82.5% compared to 2015-16, at AED1.25b (US$340m) compared to net profit of AED7.13b last year. Revenue for the period was static at AED85b. Emirates Group chairman & CE Ahmed bin Saeed Al Maktoum said the aviation and travel markets were notoriously vulnerable to social, economic and political events and “for us, this year has been a particularly testing one.” He cited a combination of global terrorist attacks, the attempted coup in Turkey, the UK’s vote to leave the EU and the election of US president Donald Trump. He said the last of these factors, in particular, had affected Emirates. <br/>
