President of Emirates Airlines Tim Clark is confident they will remain profitable through next March, even though last year its net profits plummeted 72%. During an interview on the sidelines of the two day International Air Transport Association (IATA) conference in Malaysia, Clark said “I like to think we will be in the black.”
Clark said they have enough cash, have made profits for 24 consecutive years, and “We can afford to take a hit because we haven’t squandered that money and we have a cash mountain that allows us to tough it through.” Clark’s message is optimistic given IATA’s forecast that global airlines will probably lose $9 billion this year.
