“The Emirates Group has risen to the occasion to produce a new record performance,” a statement from Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO, stated. “The Group’s excellent financial standing today places us in a strong position for future growth and success.”
On May 13, Dubai’s Emirates Group reported annual profits of $5.1 billion, marking a 71 percent increase and setting a new record for the second consecutive year.
Citing robust customer demand, the group stated that profits over the past two years reached $8.1 billion, exceeding the losses incurred during the pandemic years of 2020-2022.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO, said in a statement, “The Emirates Group has once again achieved a new record performance.”
“Our excellent financial position today places us well for future growth and success, allowing us to invest in delivering better products, services, and greater value to our customers and stakeholders,” Sheikh Ahmed added.
Emirates Group has announced a 20-week bonus for its employees following a particularly strong financial performance for the fiscal year.
With its workforce reaching a record high of 112,406 — a 10 percent increase from the previous year — Emirates and dnata (both part of the Emirates Group) have intensified their global recruitment efforts. This expansion is intended to enhance operational capabilities and strengthen future capacities across various sectors.
This significant growth is further highlighted by a record revenue of Dh137.3 billion ($37.4 billion), a 15 percent increase driven by strong customer demand across its business divisions.
Emirates concluded the year with its highest-ever cash balance of Dh47.1 billion ($12.8 billion) and declared a dividend of Dh4.0 billion ($1.1 billion) to its owner, the Investment Corporation of Dubai (ICD).
Emirates alone achieved a record profit of Dh17.2 billion ($4.7 billion), a 63 percent increase from last year’s Dh10.6 billion ($2.9 billion). The airline’s revenue increased by 13 percent to Dh121.2 billion ($33.0 billion), as it expanded its capacity and continued to enhance its global network and partnerships.
Similarly, dnata experienced significant financial growth, with profits reaching Dh1.4 billion ($0.4 billion), a substantial rise from last year’s Dh331 million ($90 million). Its revenue grew by 29 percent, reaching a new record of Dh19.2 billion ($5.2 billion).
