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FINANCIAL NEWS
UAE airline’s revenue to drop this year
15 Mar 2017
(MENAFN) The profitability of airlines in the UAE, the Mideast’s major aviation hub, is likely to drop this year among limited growth in demand.
Accordingly, Mideast airlines are likely to see revenues fall to USD300mn in 2017 from USD900mn in 2016 due to high capacity and limited demand growth.
Additionally, half-year profit declined by 75 percent at Emirates and Tim Clark, the airline’s president, said last week that while yield declines had halted it was still a tough year.
Meanwhile, Air Arabia and FlyDubai posted lower full-year revenue for last year, whereas Etihad has not yet reported its results but it is reviewing its business.
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