The head of the world’s largest long-haul airline warned that the aviation industry is in “uncharted territory” as US President Donald Trump’s trade war pushes up costs for airlines.
“We are in troubled times,” Emirates President Tim Clark told CNBC in an interview recorded March 20 but broadcast this week. The 22-year Emirates veteran called Trump’s moves a deliberate “trade reset” aimed at reshaping global commerce that may lead to “troubled waters” in the short-term. China’s retaliatory tariffs threaten Emirates as costs across the supply chain are expected to rise.
On travel demand, however, Clark was sanguine: Long-haul travel remains “very strong,” with bookings solid through the rest of this year and into early 2026. However, airline stocks are now falling on weaker passenger demand outlook as the trade war deepens.