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Emirates profit drops 70% on economic woes

Low oil price weighs on Persian Gulf economies and fear of terrorist attacks discourages people from travelling

While the airline's annual passenger count rose 8 per cent to a record 56 million, the average load factor declined to 75.1 per cent from 76.5 per cent a year earlier.


EMIRATES Group, the biggest long-haul airline, 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 ended March 31 tumbled 70 per...

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