Emirates airline reports falling profits

Emirates airline has reported profits of Dh871m ($237m) in the 2018-2019 financial year compared to Dh2,796 in the prior financial year. Revenue grew by 6% to Dh97.9bn. Costs, specifically fuel costs and currency volatility, reduced profitability and the airline’s profit margin significantly. Total operating costs increased mainly due to the sharp 22% upswing in jet fuel prices, on top of last year’s 15% surge. Fuel now forms 32% of Emirates operating costs, while the airline was also negatively impacted by the strengthening of the US dollar to the tune of Dh572 million, a swing of Dh1.2 billion from the previous