Emirates has put itself between a rock and a hard place.
It will, no doubt, state that it cannot afford either a pay rise or a profit share.
On the other hand, it cannot NOT afford a profit share AND a substantial pay rise if it wants to check the attrition rate and attract sufficient new joiners to service the status quo, let alone further expansion.
We hear all sorts of statements from employees regarding profit share and pay rise each and every year. This year, Emirates should take very serious note.