Originally Posted by
north flyer
FFS, calm down guys, they made a profit.
Profit margin for EK was 1.5% and the group 2.6%, not great for "some" people, but not bad for a mature airline.
Break even load factor was 64.5%, in the real world that is great, go look at what other mature airlines need.
Employee cost at 14%, at most mature airlines it twice that.
Remember, that
1) The so called "audit" does not follow any international accepted auditing standards like EBITDA. PwC is auditing whatever opaque internal standard EK management is putting forward. They can cook the books and show a "profit" and PwC will happily audit that; for a fee of course. For all we know they could've lost hundreds of millions of dollars. We'll never find out.
2) You (The employee) are a means to an end, not the end.