Emirates Group reported a 66% drop in after-tax profit to $1 billion for the first half of its 2026-27 financial year, as the ongoing conflict in the Persian Gulf region drove up fuel costs and disrupted air travel, the UAE's state-run WAM news agency reported Thursday.
The Dubai-based aviation group's revenue fell 12% to $18 billion, while pre-tax profit stood at $1.1 billion for the six months ending September 30.
Emirates Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said global jet fuel prices had doubled compared with the same period last year, weighing on costs and profitability.
The airline carried 21.8 million passengers during the period, down 22%, as intermittent airspace closures and travel advisories disrupted operations across the region.
Emirates said it had restored 91% of its pre-disruption network by the end of September, while cargo revenue rose 52% as the conflict disrupted maritime transport and reduced available airfreight capacity.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.