Emirates Airlines Not in a Good Place Amid Diminishing Demand, President Tim Clark Says

The transcript discusses the impact of the global economic slowdown on Emirates and the aviation industry. Emirates President Tim Clark highlights diminishing demand and the challenges posed by geopolitical and socio-economic factors. He predicts a further decline in air travel demand over the next few years. The discussion also covers Emirates' strategic planning regarding fleet expansion and aircraft selection in response to these economic challenges.

What does Tim Clark mean by a 'major trade rebalancing' and how might it impact the airline industry?

What changes is Emirates considering in response to the economic landscape and the demise of the A380?