While UAE media outlets today trumpet Emirates winning “Best Airline In The World” at the Middle East edition of the Business Traveller awards, the company’s financial future may not be as golden.
Delivering a keynote on EK’s growth strategy, Reuters quoted Clark as stating “we’ve managed to come ahead with positive results, although it’s not as good as it has been in the past”. He cited political tensions in the Middle East as a major factor hurting the airlines’ growth.
Given the financial troubles of it’s distant cousin at the other end of Highway E11, Etihad, it makes one wonder if the “big bang” expansion of the ME3 airlines is now turning into a financial version of the “big crunch”.
With Emirates cancelling the majority of their order to acquire 54 more A380 superjumbos this past February, there are clear signs that the market is cooling off for them. It should be interesting to see their next annual report, expected sometime in May.