War dents Emirates’ profit as transit passengers stay away
The airline was kept in the black by a healthy cargo business and fuel hedges. Emirates’ half-year profits fell by two-thirds, with the Iran war keeping transit passengers away from Gulf hubs and the closure of the Strait of Hormuz sending jet fuel prices soaring. The airline was kept in the black by a healthy cargo business and fuel hedges. Simultaneously, the war has tilted Dubai’s skies in Emirates’ favor. After drones targeted Dubai International in March, authorities briefly suspended foreign airlines. They then limited them to one round trip a day while Emirates and sister carrier flydubai ran hundreds — leading some Indian carriers to complain of an uneven playing field. Most of Emirates’ rivals have yet to come back; still, British Airways this week resumed its London-Dubai route, returning for the first time since the war began.
The airline was kept in the black by a healthy cargo business and fuel hedges. Emirates’ half-year profits fell by two-thirds, with the Iran war keeping transit passengers away from Gulf hubs and the closure of the Strait of Hormuz sending jet fuel prices soaring. The airline was kept in the black by a healthy cargo business and fuel hedges. Simultaneously, the war has tilted Dubai’s skies in Emirates’ favor.
After drones targeted Dubai International in March, authorities briefly suspended foreign airlines. They then limited them to one round trip a day while Emirates and sister carrier flydubai ran hundreds — leading some Indian carriers to complain of an uneven playing field. Most of Emirates’ rivals have yet to come back; still, British Airways this week resumed its London-Dubai route, returning for the first time since the war began.