Emirates Airline reported a 69 per cent drop in net profits on Thursday on high fuel prices and a strong dollar in what it described as a “tough” year.
The Dubai carrier posted $237 million in net profits for the financial year ending in March compared to $765 million in the previous year, it said in a statement.
“2018-19 has been tough, and our performance was not as strong as we would have liked,” the chairman and chief executive of Emirates Group, Sheikh Ahmed bin Saeed Al-Maktoum, said in a statement.
“Higher oil prices and the strengthened US dollar eroded our earnings, even as competition intensified in our key markets,” he said.
