Emirates chief condemns greed of oil companies
President of Emirates Airline Tim Clark said the time has come for oil companies to stop being fuelled by greed and to think about the rest of the world.
Clark told Gulf Business: “The price of fuel will continue to be a thorn in our side. Unless airlines move to become more efficient and eliminate unnecessary costs, more will be consigned to aviation’s graveyard.
“But when fuel represents more than 40 per cent of our operating costs, there are only so many ways to turn.”
Clark laid the blame for expensive aviation fuel – the highest cost to an airline – at those in charge of oil prices, indicating their greed is affecting the wider global economy as well as the aviation business.
“I have long believed oil prices are being spiked by speculative greed – perhaps the time has come for those distorting the market to take note of the devastating effects of their actions, not just to the airline industry, but to the global economy as a whole,” Clark said.
“If the situation with fuel prices was serious before, it is now critical, and I doubt the airline industry could bear the brunt of another cost escalation.”
Ian Jarrett
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