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Emirates Profit Down 70% on Oil-Hit Economies, Terror Impact

  • Long-haul giant suffers first earnings decline since 2012
  • Strong dollar and Trump’s laptop ban present further challenge
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Emirates Group, the biggest long-haul airline, posted its first decline in annual profit for five years as the low oil price weighed on Persian Gulf economies and terrorist attacks discouraged people from traveling.

The Dubai-based company will halt dividend payments to its government shareholder for the first time in at least a decade while stepping up savings efforts after net income tumbled 70 percent to 2.5 billion dirhams ($680 million) in the 12 months ended March 31.