November 15, 2018 / 11:18 AM / a month ago

Emirates H1 profit falls 86 pct on higher fuel costs, currency

DUBAI, Nov 15 (Reuters) - Emirates airline on Thursday reported an 86 percent fall in first-half profit, as higher fuel costs and unfavourable currency exchange rates eroded earnings.

Emirates, the world’s biggest long-haul airline, made 226 million dirhams ($62 million) in the six months to Sept. 30, compared to 1.7 billion a year earlier.

Revenue rose 10 percent to 48.9 billion dirhams.

Chief Commercial Officer Thierry Antinori warned on Tuesday earnings would be squeezed by higher fuel costs and a strong dollar. Concerns about the global economy and political instability had also weakened profit, he said. ($1 = 3.6728 UAE dirham) (Reporting by Alexander Cornwell; Editing by Adrian Croft)

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