Emirates President Tim Clark said he expects the increase in fuel prices to cost the carrier as much as $500 million this year. Speaking to la Repubblica, Clark said, "this year we expected profits to grow by about $500 million to nearly $2 billion, but the rise in crude [oil prices] already costs us more or less that amount. We too are enacting a cost reduction plan." EK's plan to reduce costs by $100 million in the fiscal year started April 1 has been revised for a second time. Reductions ...

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