Emirates likely to increase airfares

DUBAI, May 3 (Gulfnews): After having increased airfares by about 15 per cent this year, Emirates could be forced to raise them again this year if oil prices continue to rise, Tim Clark, Emirates President, told the news agency. "We have already done it a number of times this year. We have increased by 15 per cent already. We are leaving it as it is for now. But we may have to tend to our costs if oil prices go up to $150 (Dh550.50)-$160 per barrel levels," he said. Fuel accounted for 43 per cent of the airline's costs last year, according to Clark.