Emirates Group Reports Record Half-Year Profits of AED 10.4 Billion

Emirates Group CEO and Chairman Ahmed bin Saeed Al Maktoum has announced a “record performance” for the company’s half-year results, with pre-tax profits reaching AED 10.4 billion ($2.8 billion) for the first six months of 2024-25. This marks a 1% increase over the previous record of AED 10.3 billion ($2.8 billion) achieved during the same period last year.

The financial results, published on November 7, 2024, are significant as they reflect the first full financial year impacted by the UAE corporate income tax, set at 9%. Total revenue for the Emirates Group during this period was AED 70.8 billion ($19.3 billion), a 5% rise from AED 67.3 billion ($18.3 billion) in the previous year.

Emirates Airlines reported a 5% increase in revenue to AED 62.2 billion ($16.9 billion), with a profit before tax of AED 9.7 billion ($2.6 billion), up 2% compared to the same period last year. The strong performance is attributed to heightened travel and air cargo demand, as well as the airline’s continued investment in products and services to enhance customer experience.

“This record performance demonstrates the power of our proven business model and Dubai’s growth as a global hub for living, working, and travel,” stated Al Maktoum. He emphasized that the group’s profitability allows for significant investments in new products and services, advanced technologies, and employee welfare.

Highlights from the first half of the year include the addition of three Airbus A380s and five Boeing 777s following a comprehensive AED 4 billion ($1.1 billion) retrofit program, as well as new Emirates Lounges for premium customers at London-Stansted Airport (STN) and King Abdulaziz International Airport (JED) in Jeddah.

In air cargo, Emirates SkyCargo transported 1,198,000 tons in the first half of the year, reflecting a robust 16% increase from the previous year.

Looking ahead, Al Maktoum expressed optimism for continued customer demand throughout 2024-25 and highlighted plans to increase capacity with new aircraft entering the Emirates fleet and new facilities coming online at dnata. He reiterated the company’s commitment to remaining agile in a dynamic marketplace.

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