Emirates: A 'glass half full' airline

Emirates Airlines symbolises the heady days of the past decade. From a massive A380 order to in-flight showers in first class, the airline made a name for itself outdoing its competitors. But with the world in the midst of a global recession, can the airline continue its lavish spree

Based on Emirates' earnings for the six months to September 2008, it is clear that things are not as rosy as they once were. Citing fuel costs, the airline's net profit fell 88% to Dh284 million $77 million from a year earlier. Operating revenue grew 31% to Dh22.1 billion, but costs rose faster at 50.4% year-on-year. Revenue passenger traffic growth was 11%, which is below the...