Emirates Group CEO: Business conditions improved but 'remained tough' in FY2017/18

Emirates Group reported (09-May-2018) its 30th consecutive year of profit in FY2018, ended 31-Mar-2018. Emirates Airline and group chairman and CEO Ahmed bin Saeed Al Maktoum said: "Business conditions in 2017-18, while improved, remained tough. We saw ongoing political instability, currency volatility and devaluations in Africa, rising oil prices which drove our costs up, and downward pressure on margins from relentless competition. On the positive side, we benefitted from a healthy recovery in the global air cargo industry, as well as the relative strengthening of key currencies against the US dollar". Sheikh Ahmed added: "We've always responded to the challenges of each business cycle with agility, while never losing sight of the future, and this year was no exception". [more - original PR]