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Emirates Group says first-half profit drops 66%
DUBAI: The UAE’s Emirates Group on Thursday said its profits in the first half of the financial year fell 66 percent year-on-year, as the regional war and high fuel costs hit aviation. Half-year profit after tax stood at 3.6 billion AED ($1 billion), the group said in a statement. The Dubai-based group, which owns the largest airline in the Middle East, said its Emirates airline saw half-year profit before tax fall 68 percent to AED 3.7 billion, eroded by high fuel prices. Since the Middle East war began in late February, energy prices have soared as Iran’s blockade on ships in the vital Strai...
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