Despite the 88% cut in profitability during the first half of its current financial year, Emirates is still maintaining an air of confidence about its financial performance as its enters 2009. The carrier’s vice-Chairman, Maurice Flanagan, has described the current economic slowdown as a “hiccup”, and forecast global passenger traffic growth of approximately 5% would return after the worst of the crisis has passed, expected to bottom out within the next 12 months.
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