Airlinerdude wrote:Varsity1 wrote:Airlinerdude wrote:
I'll agree that EY and QR are likely not profitable, however to group EK in that bunch is, as you put it, 'ludicrous'.
Emirates has half a trillion in assets on order or on the line. Who finances that? Four hundred thousand million dollars. The same cost as the US military, from a country the size of Portugal. Get real dude. No bank in the world would foot that, which explains why the president of EK is also the president of the UAE's national bank.
I presume that if you're making naive statements such as that, you're definitely not aware of the financing vehicles EK uses. Not only has EK previously used many international banks in the past to finance orders, it mostly uses sales and leasebacks to finance a significant amount of their aircraft purchases. A 'staggering' two aircraft are actually owned outright by EK, 103 are on finance leases, and 139 are on operating leases - as per their last financials.
With the exception of two routes, they are flying back and forth to their own countries. They have the unlimited right to do that. End of story. ATH is barely served from the USA and Greece wanted them to fly the route. End of story. AZ shut their MXP hub and invited EK to fly the route. End of story. The U.S. does not have the unilateral right to decide what airlines fly what routes. Other countries have some say over routes to their own countries.
Over 50% of the world's ASM/ASKs are operated by airlines with full or partial government ownership including several SkyTeam partners of DL.