Eddy Pieniazek, Head of Advisory, is quoted in The New York Times today:

Emirates, Qatar Airways and Etihad Airways have become some of the world’s largest and most profitable thanks to their location at the center of busy travel routes.

By Niraj Chokshi

Four decades ago, in the middle of a different war in the Persian Gulf, the rulers of Dubai started Emirates, an airline that would defy the odds and become one of the world’s largest and most profitable carriers.

Now, it and other airlines in the region are facing their biggest test since the Covid-19 pandemic. The war in Iran has forced these companies to cancel tens of thousands of flights, tearing up the travel plans of millions of people, many of them intending to continue on to other destinations. The big questions now are how well Emirates and other Persian Gulf airlines are managing the fallout and how long will it take them to recover….

…Some aviation experts said they expected the region’s airlines and airports to bounce back once the dangers subside. They noted that air travel often recovers quickly from crises, including crashes, terrorist attacks and the pandemic.

Read the full article