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Emirates sees higher profits but cites lower oil industry demand

Thursday, March 10, 2016 - 17:16

[BERLIN] Emirates airline will show"significantly higher" 2015/16 annual profits, but some business has evaporated due to the recent slump in oil prices, its president Tim Clark said on Thursday.

The Dubai carrier is considering downgrading A380 services to Houston because of falling demand from the oil industry, which overall represents its biggest corporate customer, Clark told reporters during the ITB tourism exhibition in Berlin.

He said Emirates is still interested in an upgraded version of the Airbus A380 superjumbo, known as the A380neo, a project shelved for the time being by the European planemaker as it focuses on a potential bigger version of its A350 model.

Clark questioned Airbus's proposal to add to the A350 family and contrasted the clarity of its wide-body decisions unfavourably with that of its US competitor Boeing.

REUTERS

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