11-Nov-2008 11:22 AM
Emirates' interim profits dives 88%, but timing of industry storm perfect for Middle East carriers
Analysis
Fuel prices have exposed Emirates' Achilles Heel, slashing its first half profits by 88%. Unlike some of the myths surrounding the airline's cost structure (ie suggestions of free fuel and government subsidies), Emirates has not been immune to the cost headwinds facing the sector. The airline's fuel costs more than doubled in the period.
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