Airline's profit plunges 88pc

DUBAI'S Emirates airline says its net profit for the first half of the financial year dropped a dramatic 88 per cent to $US77 million ($112.5 million) because of high oil prices. The largest Middle East carrier said its profit for the six months to September 30 plunged from $US643 million ($939 million) in the same period last year.

"The first half of the year has been very tough for the airline industry, with record fuel prices forcing many carriers to shut shops or consolidate,'' Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum said in a statement.

Peter

Thoughts:

1) I thought Emirates would have got their fuel at a budget price.

They have had some really cheap specials like Brisbane to BKK for under $700 AUD where all the other ailines are over $1000. Either they are not getting enough bums on seats or giving away too many cheap flights, not that I am complaining.

Airline's profit plunges 88pc

DUBAI'S Emirates airline says its net profit for the first half of the financial year dropped a dramatic 88 per cent to $US77 million ($112.5 million) because of high oil prices. The largest Middle East carrier said its profit for the six months to September 30 plunged from $US643 million ($939 million) in the same period last year.

"The first half of the year has been very tough for the airline industry, with record fuel prices forcing many carriers to shut shops or consolidate,'' Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum said in a statement.

Peter

Thoughts:

1) I thought Emirates would have got their fuel at a budget price.

That's what Qantas and Virgin Blue were betting the public would believe too while trying to ban Emirates from entering deeper into Oz market. It was a nonsense, they proved to Oz government they are not being subsidized.