The past year has seen further dents in the financial reputations of the once seemingly unstoppable “ME3”—Emirates Airline, Etihad Airways and Qatar Airways.  All three Gulf carriers recorded losses or reduced profits, ascribing these to a combination of higher fuel costs, increasingly tough competition—notably from local carriers—and a strengthening dollar. Emirates’ 2018-19 profit dropped almost 70% to $237 million, Etihad posted a $1.28 billion ...

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