How the Rapid Growth of Persian Gulf Airlines Cuts Into Lufthansa's Profits

Lufthansa 747-830 at the Berlin Air Show Photograph by Robert Schlesinger/AP Photo

Global airline executives tend to focus their financial worrying on oil prices and economic instability. The ambitions of three Persian Gulf-based carriers haven’t typically been on the radar. But the growth of Emirates, Qatar, and Etihad appear to be coming at the expense of European airlines battling for many of the same passengers—and the Gulf upstarts could soon pose a threat to U.S. airlines as well.

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