{"version":"1.9","identifier":"06a3467d-b0ce-4032-a0d3-d0169cbc6fca","language":"en-US","title":"Emirates Says Revenue Beats Last Year Despite the War. Qatar Airways Calls It Its Biggest Crisis Ever","layout":{"columns":7,"width":1024,"margin":32,"gutter":20},"componentLayouts":{"text":{"columnStart":0,"columnSpan":7,"maximumContentWidth":720,"margin":{"top":12,"bottom":12}},"photo":{"columnStart":0,"columnSpan":7,"margin":{"top":20,"bottom":20}}},"componentTextStyles":{"default":{"fontName":"HelveticaNeue","fontSize":18,"lineHeight":29,"textColor":"#171717"},"headline":{"fontName":"HelveticaNeue-Bold","fontSize":36,"lineHeight":42,"conditional":[{"conditions":{"maxViewportWidth":480},"fontSize":28,"lineHeight":34}]},"intro":{"fontName":"HelveticaNeue","fontSize":20,"lineHeight":28,"textColor":"#555555"},"caption":{"fontName":"HelveticaNeue","fontSize":13,"lineHeight":19,"textColor":"#666666"},"byline":{"fontName":"HelveticaNeue","fontSize":13,"lineHeight":20,"textColor":"#666666"},"body":{"fontName":"HelveticaNeue","fontSize":18,"lineHeight":29,"paragraphSpacingAfter":14,"linkStyle":{"textColor":"#00704a"}}},"metadata":{"canonicalURL":"https://www.loungefrog.com/news/emirates-qatar-airways-iran-war-impact-october-2026","datePublished":"2026-10-25T16:57:59.290241Z","dateModified":"2026-10-25T16:58:12.027503Z","authors":["Patrick Karsh"],"excerpt":"Saudi routes are cut again, Iran is off the map and fuel costs are biting. Here is how the Gulf's two biggest airlines are holding up.","thumbnailURL":"https://pub-fac99da959e344fe99d810d309cef7df.r2.dev/photos/article/06a3467d-b0ce-4032-a0d3-d0169cbc6fca/4b9f076e4d5a2400ea0f4b6cc4d91161.jpg","keywords":["airline"],"generatorName":"Frog News","generatorVersion":"1.0"},"components":[{"role":"title","text":"Emirates Says Revenue Beats Last Year Despite the War. Qatar Airways Calls It Its Biggest Crisis Ever","textStyle":"headline","layout":"text"},{"role":"intro","text":"Saudi routes are cut again, Iran is off the map and fuel costs are biting. Here is how the Gulf's two biggest airlines are holding up.","textStyle":"intro","layout":"text"},{"role":"byline","text":"By Patrick Karsh · Published October 25, 2026","textStyle":"byline","layout":"text"},{"role":"photo","URL":"https://pub-fac99da959e344fe99d810d309cef7df.r2.dev/photos/article/06a3467d-b0ce-4032-a0d3-d0169cbc6fca/4b9f076e4d5a2400ea0f4b6cc4d91161.jpg","caption":"An Emirates Airbus A380. The airline says it is flying 91% of its pre-war capacity. · Emirates","accessibilityCaption":"An Emirates Airbus A380. The airline says it is flying 91% of its pre-war capacity.","layout":"photo"},{"role":"caption","text":"An Emirates Airbus A380. The airline says it is flying 91% of its pre-war capacity. · Emirates","textStyle":"caption","layout":"text"},{"role":"body","format":"markdown","text":"## Two hubs, one war, very different headlines\n\nEight months after US and Israeli strikes on Iran on February 28, Dubai and Doha are open and busy. But the war has not left Emirates and Qatar Airways alone. Their Saudi networks are cut back again after Houthi attacks on Saudi airports, Iran is off their maps, and fuel costs are biting.\n\nTheir bosses are still sounding upbeat. Here is what each airline has said, and what has changed for passengers.\n\n## Emirates: \"91% of pre-war capacity\"\n\nSpeaking at the Routes World conference in Frankfurt on October 21, Emirates president Tim Clark said the airline is flying 91% of its pre-war capacity, [Aviation Week reported](https://aviationweek.com/air-transport/airlines-lessors/emirates-tim-clark-sees-demand-holding-firm-through-regional-crisis). He said revenue in the prior week was higher than the same week in 2025, Emirates' most profitable year on record.\n\nThe catch is fuel. \"Had it not been for the fuel, we would be ahead of last year,\" Clark said.\n\nHe also took a swipe at the European airlines that pulled out of Dubai. \"Dubai is still operating perfectly normally and Emirates is excelling in what it's doing, so one wonders why they're not there,\" he said, as quoted by [Arabian Business](https://www.arabianbusiness.com/business/transport/emirates-boss-sees-major-travel-resurgence-after-iran-war-ends). He added that while he \"should be content\" with that, \"it's sending the wrong message.\" Some of those rivals are only now planning their return, as our [Dubai return-dates story](https://www.loungefrog.com/news/who-is-flying-to-dubai-airline-return-dates-october-2026) shows.\n\nClark credited the protection Emirates added in June for travelers worried about getting stuck abroad, including extra hotel nights and rebooking on other airlines if a flight is canceled because of the conflict. \"That unlocked a lot for us,\" he said.\n\nIn May, the Emirates Group said it entered the year with very strong cash reserves and was well hedged on fuel until 2028-29, [Reuters reported](https://www.marketscreener.com/news/emirates-airline-posts-record-net-profit-despite-war-impact-ce7f58d3db88f624). The next real test comes with its half-year results. Last year the group reported its first-half numbers on November 6, according to the [Emirates media center](https://www.emirates.com/media-centre/emirates-group-hits-new-half-year-profit-record-for-2025-26/). Those results will cover April through September, the heart of the war's disruption.\n\n## Qatar Airways: \"our single largest crisis\"\n\nQatar Airways CEO Hamad Al-Khater has been blunter. \"It was our single largest crisis in our history,\" he told Bloomberg TV, as [reported by Zawya](https://www.zawya.com/en/business/middle-east/iran-war-largest-crisis-ever-for-airline-says-qatar-airways-ceo-1037990). He said the airline was suspending or pausing less profitable routes, and that customers are booking later than usual.\n\nThe low point came on February 28, when Qatar shut its airspace. The airline's chief operating officer told [Euronews](https://www.euronews.com/2026/09/11/behind-the-scenes-at-qatar-airways-an-inside-look-at-passenger-numbers-new-aircraft-and-wi) that 8,000 passengers were stranded in Doha at the time, with 8,400 more stuck across its network.\n\nBy September the picture had improved. Al-Khater told the [Qatar News Agency](https://qna.org.qa/en/news/news-details?date=9%2F09%2F2026\\&id=qatar-airways-ceo-138-new-aircraft-in-five-years-and-passenger-traffic-recovers-over-90-percent) that passenger traffic was back to 90% to 95% of last year. He said Hamad International was handling more than 140,000 passengers a day. He also said airspace congestion was causing delays of 10 minutes to an hour.\n\n## Saudi Arabia: the new front\n\nThe October Houthi attacks on Riyadh's airport, and the October 21 attack on Dammam's airport, hit both airlines' busiest short routes. Our earlier coverage explains [what happened in Riyadh](https://www.loungefrog.com/news/riyadh-airport-reopens-airlines-stay-away-october-2026). Our thoughts are with those who lost family and friends.\n\n* **Qatar Airways:** It suspended Riyadh and Dammam and cut Jeddah from seven daily flights to four, in a post on its X account carried by the Qatar News Agency on October 19. The National newspaper reported on October 25 that the Riyadh suspension now runs through October 25 and Dammam remains suspended. Qatar Airways tells passengers to contact it within 48 hours of departure.\n* **Emirates:** According to The National's reading of Emirates' online schedule, Dubai to Jeddah flights resume October 30, and Riyadh and Dammam return on November 8. Medina flights continue.\n\n## Iran and longer flights\n\nIran remains closed to both airlines' passengers. Emirates told Iran International it no longer flies to Tehran. Qatar Airways said its Iran flights are suspended because of airspace limits, with a tentative November 29 restart, Iran International reported. Our [Iran explainer](https://www.loungefrog.com/news/iran-airspace-open-airlines-avoid-sanctions-october-2026) covers why almost no one flies there now.\n\nAirspace matters even on routes that never touch Iran. Europe's safety agency, EASA, advises airlines to avoid flying over Persian Gulf waters near Bahrain, Kuwait, Qatar and the UAE except to take off or land. With Iran, Iraq and parts of Saudi Arabia off limits as well, some flights are taking longer routes. Our [Saudi detour story](https://www.loungefrog.com/news/europe-asia-flights-avoid-saudi-airspace-longer-flight-times-october-2026) explains how.\n\n## What it means for you\n\n* **The hubs work.** Dubai and Doha are open, and both carriers fly most of their networks.\n* **Saudi trips need a backup plan.** Check your flight within 48 hours of departure, and expect dates to move.\n* **Leave longer connections.** Congestion and detours can add time, and a tight transfer is riskier than usual.\n* **Know your rights.** Our [Middle East guide](https://www.loungefrog.com/news/middle-east-flight-disruptions-what-you-are-owed-october-2026) covers refunds and rebooking.\n\nIf a delay does strand you at the hub, a lounge with a shower is worth more than a meal voucher. Check what your ticket or card gets you before you fly.","textStyle":"body","layout":"text"}]}