U.S. Policy Contributes to Plunging Profits at Emirates | Aviation International News

U.S. Policy Contributes to Plunging Profits at Emirates

Group sees 70 percent profit decline as several factors push pricing downward

By Gregory Polek • Senior Editor

May 11, 2017

The Emirates Group experienced what company chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum called one of its most challenging years ever as it saw profits drop by 70 percent for its fiscal year ending March 31. Sheikh Ahmed named new policies affecting travel to the U.S. among several factors that led to the drop in profit to $670 million. He also listed the UK’s so-called Brexit vote, European immigration “challenges” and terrorist attacks, currency devaluation, delays in repatriating funds from parts of Africa and the continued effect of a sluggish oil-and-gas industry on business confidence and travel demand.

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