Global airline rivals circle Gulf carriers as Emirates faces profit dip.
Emirates posted a 12% drop in net profit for the fiscal first half, signaling a pivot point for an industry long dominated by deep-pocketed Gulf giants. Surging fuel costs and aggressive fleet expansions from European and Asian competitors are eroding their pricing edge. The real pressure? New joint ventures between legacy carriers are slashing transatlantic and Asian routes, forcing Gulf airlines to renegotiate fleet orders and cut legacy perks. CEOs watching: this signals a shift toward leaner, partnered operations in an overcrowded skies market.