Emi­rates profit falls on low oil prices

New Straits Times - - Business -

DUBAI: Emi­rates Group posted its first de­cline in an­nual profit for five years as the low oil price weighed on Per­sian Gulf economies and ter­ror­ist at­tacks dis­cour­aged peo­ple from trav­el­ling. Net in­come for the 12 months end­ing March 31 tum­bled 70 per cent to 2.5 bil­lion dirhams (RM2.95 bil­lion) as rev­enue grew two per cent to 94.7 bil­lion dirhams, said Emi­rates yes­ter­day. Adding to the car­rier’s woes are a stronger dol­lar and a ban on in-cabin lap­tops on Amer­i­can flights that’s prompted it to rein in United States ca­pac­ity.

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