Emirates airline says profits down 70 percent in past year

Profits were affected by a turbulent year, including immigration concerns, terror attack, military coup in Turkey, Britain's vote to leave the European Union and Trump administration attempts to ban travelers from some Muslim-majority nations

11 May 2017 | 11:33

Source: Associated Press

  • Source: Associated Press
  • Last update: 11 May 2017 | 11:33

In this Dec. 18, 2014 file photo, an Emirati man takes a selfie in front of a new Etihad Airways A380 in Abu Dhabi, United Arab Emirates. (AP Photo)

DUBAI, United Arab Emirates: Emirates Group, which operates the Middle East's largest airline, says profits have fallen by 70 percent to $670 million, though revenue increased slightly to around $26 billion.

In its report released Thursday, the airline said profits were affected by a turbulent year, including heightened immigration concerns, terror attacks in several European cities, an attempted military coup in Turkey and uncertainty caused by Britain's vote to leave the European Union.

Emirates this year has slashed its flights to the United States by 20 percent because of a drop in demand caused by tougher U.S. security measures and Trump administration attempts to ban travelers from some Muslim-majority nations.

The Dubai-based operator's earnings report for the latest fiscal year runs from the start of April 2016 until the end of March 2017.

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