Emirates Group reports record profits amid growing global demand

Policy

HH Sheikh Ahmed bin Saeed Al Maktoum Chairman & Chief Executive, Emirates Airline & Group | Emirates Airline

By Sky Industry News

Nov 7, 2024

The Emirates Group has announced its best-ever half-year financial performance for 2024-25, with a profit before tax of AED 10.4 billion (US$ 2.8 billion), marking a 1% increase from the same period last year. The group's revenue rose by 5% to AED 70.8 billion (US$ 19.3 billion), driven by strong customer demand across its business divisions.

Emirates airline reported a revenue increase of 5% to AED 62.2 billion (US$ 16.9 billion) and a profit before tax of AED 9.7 billion (US$ 2.6 billion), up by 2%. This growth reflects robust travel and air cargo demand across regions, alongside ongoing investments in products and services.

dnata's revenue climbed by 11% to AED 10.4 billion (US$ 2.8 billion) as operations expanded to meet customer demand, though it posted a profit before tax of AED 720 million (US$ 196 million), down by 5%.

Get the Newsletter

Sign-up to receive weekly round up of news from Sky Industry News

By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, attributed the record results to the organization’s business model and Dubai’s growth trajectory: “The Group has surpassed its record performance of last year to deliver a fantastic result for the first half of 2024-25."

This financial year marks the first application of UAE corporate income tax on the Emirates Group, resulting in an after-tax profit of AED 9.3 billion (USD $2.5 billion). Despite this new tax charge, the group maintained strong operating profitability with an EBITDA of AED $20.4 billion ($5.6 billion).

Emirates continued expanding its network during this period, increasing scheduled flights to eight cities and launching new routes such as daily services to Bogotá via Miami.

In terms of environmental initiatives, Emirates uplifted sustainable aviation fuel for the first time in Singapore and London Heathrow during this period.

Emirates SkyCargo saw significant growth, transporting over one million tonnes in six months—a rise fueled by increased Chinese eCommerce traffic—and placed orders for additional Boeing freighters.

dnata also showed substantial progress with strategic investments including expansion into Raleigh-Durham International airport in the USA and plans for increased cargo handling capacity in Zurich.

Despite facing challenges like rising supply costs affecting dnata's catering operations, both Emirates airline and dnata continue recruitment drives to support future requirements.