Karachi: Emirates Group has announced a record-breaking financial performance for the first half of the fiscal year, achieving a profit before tax of AED 10.4 billion (US$ 2.8 billion). This marks a 1% increase from the previous year, despite the new UAE corporate income tax. Total revenue rose by 5% to AED 70.8 billion (US$ 19.3 billion), driven by robust demand across its businesses.
Emirates Airline’s Growth and Strategic Expansions
Emirates airline contributed significantly to the Group’s success, posting a revenue increase of 5% to AED 62.2 billion (US$ 16.9 billion). Profit before tax rose to AED 9.7 billion (US$ 2.6 billion), up 2% from last year. This growth was fueled by rising travel demand and strong air cargo performance across global markets. Emirates expanded its flight network, adding new routes and partnerships, including daily services to Bogotá and new routes in Southeast Asia and Africa.
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The airline rolled out its refurbished Boeing 777s, featuring an enhanced cabin experience, on popular routes like Geneva and Tokyo Haneda. Emirates also invested AED 44 million to upgrade its premium lounges at airports like London Stansted and Jeddah.
dnata’s Revenue Boosts Despite Profit Decline
The Group’s ground services subsidiary, dnata, reported an 11% increase in revenue to AED 10.4 billion (US$ 2.8 billion). However, dnata’s profit before tax fell by 5% to AED 720 million (US$ 196 million), partly due to a one-time impairment charge. Despite this, dnata saw growth in airport services, cargo handling, and flight catering, with notable expansion in the U.S. and Switzerland.
Chairman Attributes Success to Strategic Model and Dubai’s Growth
Chairman and Chief Executive, HH Sheikh Ahmed bin Saeed Al Maktoum, highlighted Dubai’s role in the Group’s performance, praising the city’s growth as a global hub. “Our business model and Dubai’s growth are key to our achievements,” he said. The Group plans to reinvest its profits into enhancing customer services, employee welfare, and technological advancements.
Positive Outlook and Continued Investments
Looking ahead, Emirates Group is optimistic about sustained customer demand. The company aims to expand capacity by adding new aircraft and facilities. Sheikh Ahmed emphasized the Group’s agility in adapting to market dynamics, signaling readiness to capitalize on future growth opportunities.
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