{"id":57157,"date":"2017-05-11T17:11:00","date_gmt":"2017-05-11T19:11:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/emirates-sees-82-drop-in-profit\/"},"modified":"2019-06-30T12:47:25","modified_gmt":"2019-06-30T15:47:25","slug":"emirates-sees-82-drop-in-profit","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/emirates-sees-82-drop-in-profit\/","title":{"rendered":"Emirates sees 82% drop in profit"},"content":{"rendered":"<p>S&atilde;o Paulo &ndash; Emirates, the airline based in Dubai, the United Arab Emirates, reported on Thursday (11) a net profit of USD 340 in the fiscal year ended March 31. Website <em>Gulf Business<\/em> reported an 82% drop from the preceding year, due to the &ldquo;relentless rise&rdquo; of the USD dollar relative to the UAE&rsquo;s dirham.<\/p>\n<p>IT was the first time since the 2011-2012 fiscal year that the UAE-based carrier saw its profit drop year-on-year. In addition to the currency issue, the airline mentioned several &ldquo;destabilizing events,&rdquo; among them the Brexit (the United Kingdom&rsquo;s decision to step out of the European Union) and the United States president Donald Trump&rsquo;s restrictions on inbound flights from the Middle East.<\/p>\n<p>Although profit shrank, revenue remained flat at USD 23.2 billion, with passenger numbers going up 8% to a record 56.1 million. The carrier&rsquo;s fuel expenditure reached USD 5.7 billion, up 6% from the prior fiscal year &ndash; even though the average price per liter dropped slightly. Fuel accounted for 25% of total costs for Emirates, down from 26% the year before.<\/p>\n<p>Emirates chairman sheikh Ahmed bin Saeed al-Maktoum said the company expects another challenging year ahead. Over the last two years, Middle East airlines saw a slowdown in growth prompted by factors such as escalating terror attacks and shrinking household budgets, a consequence of the international oil price slump. <\/p>\n<p>The UK-based industry consultant John Strickland told <em>Gulf Business<\/em> that he expects Emirates to &ldquo;to keep a tighter rein on its capacity growth in the short to medium term.&rdquo; In December, Emirates deferred deliveries of 12 Airbus 380 superjumbos. <\/p>\n<p><strong>*Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-188493\">Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"<p>For the first time since 2012, the airline based in Dubai, the United Arab Emirates saw net income dwindle from one fiscal year to the next.<\/p>\n","protected":false},"author":2316,"featured_media":188493,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-57157","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"For the first time since 2012, the airline based in Dubai, the United Arab Emirates saw net income dwindle from one fiscal year to the next.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/57157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=57157"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/57157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/188493"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=57157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=57157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=57157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}