David Fickling, Columnist

A Low-Cost Conqueror Is Coming for Emirates

IndiGo is ready to turn its sights on the Gulf after surviving a horror year in its home market of India.

The air of a challenger.

Photographer: Dhiraj Singh/Bloomberg
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Think Emirates just had a bad year? It’s about to get a whole lot worse.

The world’s largest airline by international passengers hit an air pocket in the 12 months through April, with net income falling by more than two-thirds to its lowest level since 2002.