Emirate in a statement on Thursday (May 09) said that the airline has experienced an annual loss of over 69 percent due to the rise in oil prices, a stronger US dollar, and fall in air travel demands.
Emirate, which is a Dubai-based airline and world’s biggest carrier as far as long-haul flights are concerned to have seen a decline to Dh 871 million for the year ending March 31, Emirates assumed in a statement. The revenues for the entire year increased 6 percent to Dh97.9 billion year-on-year on a stable flow of passengers as well as cargo performance.
The revenue has been mainly affected by the price of crude oil; the airline is particularly susceptible to fluctuations. The excessive rise in fuel costs has become difficult to manage, which is rigged by the thoroughly lessened travel initiative from people from around the globe.
Just last week the carrier commented the comfortable spot is between $50-$60 a barrel, as opposed to the current price of about $70.
Emirates has experienced a transition in earning, the carrier is also working on a review of its future network aimed at putting stress on more-profitable ways of bringing revenue as well as dealing with the scheduled exit of the A380 superjumbo from its fleet, which Airbus SE plans to stop building.
The airline will introduce a premium-economy-class offering next year to increase its appeal to its customers. These seats priced in the “high echelons of (the) economy but well below business” as was reportedly stated by Tim Clark, the company’s president.
