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FinancialNews


  • 09-05-19

    Emirates Group down 44 percent in profit

    (MENAFN) Profits of Dubai-based Emirates Group dropped by 44 percent as a result of increased fuel expenses and tough U.S. dollar, announced the aviation company on Thursday.

    During the first quarter of the year, the international aviation holding firm stood at Dh2.3 billion in its profits, the company revealed in an annual report.

    Chairman and chief executive of the group Shaikh Ahmed bin Saeed Al Maktoum stated "2018-19 has been tough, and our performance was not as strong as we would have liked."

    Al Maktoum added "higher oil prices and the strengthened US dollar eroded our earnings, even as competition intensified in our key markets."

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