lies, damn lies, then statistics
I'm with Sandhound...I bet mngt got a nice bonus this year by showing lies *cough* i mean statistics to his highness. hello governor, look how much money I saved you, give me bonus, give me give me
couple notes...
1. Emirates is actually welcoming of these economic conditions because airlines such as Air France, Lufthansa, etc are hurting MORE than EK. EK weathers the storm and gains more routes, gate space as others shrink. EK wants a global monopoly and no competition and pure pricing power.
2. Our fuel bill has more than doubled in two years, and now represents 40.2 per cent of our total costs. Last year, we spent an additional Dhs7.5 billion (US$2 billion) on our fuel bill - 79% or Dhs5.9 billion directly related to higher fuel prices compared to the previous year. If fuel prices had held steady, our Group profit could have touched a record Dhs8.2 billion!
Be suspicious of these words. Did the fuel bill double in terms of percentage or in terms of real dirhams? Of course you are going to spend more money on fuel when you add 3 new Jets to the fleet a month.
3. Reading the last Safar, they are really beating the "we have no unfair advantages, its the people and service that make us great" drum. In these testing times for other airlines, nothing is worse than showing absolutely brilliant earnings. Its harder for Lufthansa to cry foul when EK is crying too.
In conclusion, lies, damn lies and statistics. No one really knows what the REAL books say.