Emirates to cut fares and boost occupancy

01/07/2011 - Dubai Investment News Posted by Bob Brunskell
Emirates to cut fares and boost occupancy

Dubai-based airline Emirates is to cut the price of tickets in an effort to boost occupancy.Tim Clark, president of the carrier, told Bloomberg that it will make the move in order to battle profit falls from higher fuel costs."I can understand how irritated some airlines become, because 43 per cent of our daily costs are for fuel, and it's out of our control," he said."But the last thing you should contemplate is capacity reduction. It's easy to do, but it has sounded the death knell for so many carriers."Indeed, Mr Clark stressed that routes and flight frequency will not be cut.The airline also hopes to continue with its rapid-growth strategy, despite a squeeze in profits. Mr Clark told the news provider that Emirates will work to become a high-volume, inter-continental hub.In the year to March 31st, Emirates had an 80 per cent occupancy level after increasing its passenger numbers by 14 per cent to 31.4 million.