11th November 2008, 05:04 PM
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Member
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Join Date: Oct 2008
Posts: 82
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Quote:
Originally Posted by Montague S
Emirates isn't really hit by higher oil prices.
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Sheikh Ahmed would perhaps disagree:
http://www.emirates.com/uk/english/a...80047&offset=0
Quote:
DUBAI, U.A.E., 10th November 2008 – Emirates Airline produced a net profit of Dhs 284 million (US $77 million), for the first six months of its current financial year ending 30th September 2008. This is down 88 per cent compared to Dhs 2.36 billion ($643 million) net profits for the same period in 2007, showing the impact of the record fuel prices earlier this year.
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The drop in profits reflect a 40 per cent increase in airline unit costs per tonne kilometre, with fuel spend more than doubling from last year’s Dhs 4.1 billion ($1.1 billion) to Dhs 9.2 billion ($2.5 billion).
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