Originally Posted by
sunnfun
It needs to be added that the so called "audits" that Emirates has done on their results do not comply with any accepted international standards like EBITDA. They are completely made up by EK management so support their own narrative and have no actual meaning when comparing EK's results to those of properly audited (and stock market listed) companies like those in Europe, Asia or the US.
So nobody outside Emirates actually knows where they're losing money and why.
Of course they're audited. It's an airline owned and ran by Arabs. They're all about saving face and not accepting the fact they are losing money left and right.
Why are they losing money? Fuel profit margins have gone down.
They have lost a lot of pilots over the past 2 years. They're losing pilots at a hire rate that they can hire and train new ones.
The Middle East, especially places like Saudi and Kuwait will be back to the Stone Age in 40 years.
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