Greece economic crisis to severely impact Emirates Airline profitability

Emirates Airline flights are going to face financial hardships with the ongoing and escalating euro zone debt crisis in Greece.
 
Media reports quoted Emirates Airline President Tim Clark as saying that there would be major consequences for profitability and revenues of the airline with worsening economic conditions and escalation in the euro zone debt crisis in Greece.

Clark said that so far Greece has proved to be the most profitable route in Europe for Emirates Airline.  He said that this route has the highest profit, the highest yield and the highest seat factor.

According to Clark, a significant amount of the airline’s business is in euros. Apart from this, the current situation in Italy and Spain are also quite worrying. He said that in the event of the collapse of the euro zone, the airline is prepared to return to Greece currency Drachmas. He said that such a scenario threatens to several impact the revenues and profitability of Emirates Airline.