KARACHI, November 07 2024: The Emirates Group has reported its highest-ever half-year profit, with profit before tax reaching AED 10.4 billion (US$ 2.8 billion) for the first six months of the 2024-25 financial year, marking a 1% increase from the same period last year. Despite the recent implementation of a 9% corporate tax in the UAE, the Group achieved a profit after tax of AED 9.3 billion (US$ 2.5 billion), underscoring its resilience and robust business strategy.
The Emirates Group’s revenue rose by 5% to AED 70.8 billion (US$ 19.3 billion), fueled by strong customer demand across its divisions, with Emirates Airline leading with a revenue increase of 5% to AED 62.2 billion (US$ 16.9 billion). Emirates Airline’s profit before tax rose by 2% to AED 9.7 billion (US$ 2.6 billion), highlighting high demand for both passenger and air cargo services globally.
Emirates Airline Expands Reach and Enhances Customer Experience
Emirates Airlines continued its strategic expansion, adding new routes to eight destinations, including Amsterdam, Manila, and Bogotá. The airline also introduced new intermodal and codeshare agreements with seven partners, enhancing connectivity and options for travellers. With a refreshed fleet and upgraded cabin services, Emirates is positioning itself as a leader in customer satisfaction and service innovation. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, emphasized that this profit enables ongoing investment in advanced technology, customer service, and infrastructure, further solidifying the airline’s status in a highly competitive market.
dnata’s Strategic Investments Amid High Demand
In parallel, dnata achieved an 11% increase in revenue to AED 10.4 billion (US$ 2.8 billion), thanks to increased demand for its airport services, catering, and travel operations. However, a one-off impairment charge impacted its profit before tax, which fell by 5% to AED 720 million (US$ 196 million). dnata continued to expand its footprint, including new operations at Raleigh-Durham International Airport in the U.S., while also prioritizing environmental initiatives such as transitioning its UAE fleet to biodiesel.
Looking Forward: Sustained Growth and Investment
The Emirates Group ended the first half of 2024-25 with AED 43.7 billion (US$ 11.9 billion) in cash reserves, signalling its capacity for future investments in innovation, new aircraft, and improved customer experiences. Emirates’ and Dnata’s ongoing recruitment reflects a steady expansion to meet global demand.
Sheikh Ahmed remarked, “Dubai’s growth as a hub for business and leisure has empowered the Group’s steady expansion and profitability.” He expects demand to remain strong for the remainder of the fiscal year, with plans to bolster fleet capacity and services. This record performance showcases the Emirates Group’s resilience and commitment to pushing the boundaries of aviation and travel while supporting the UAE’s growth on the global stage.
