The Emirates Group has announced a net profit of $5.6 billion for the financial year, an 18% increase year-on-year. This impressive performance comes despite the introduction of the United Arab Emirates’ new corporate tax, which was applied for the first full financial year. The results were primarily driven by surging global demand for air travel.
“The Emirates Group has raised the bar to set new records for profit, revenue, and cash assets,” stated Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.
The Group invested $3.8 billion over the past year in new aircraft, infrastructure, and technology to support its global expansion strategy. Its workforce expanded by 9% to a record 121,223 employees. A dividend of $1.6 billion has been declared to its sole shareholder, the Investment Corporation of Dubai (ICD).
Emirates Airline, the Group’s flagship carrier, reported a pre-tax profit of $5.8 billion, a 20% increase from the previous year. The airline’s revenue grew by 6% to $34.9 billion, reflecting strong passenger and cargo operations.
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Dnata, the Group’s global air services provider, achieved a record pre-tax profit of $430 million, a 2% year-on-year increase, driven by the expansion of its ground handling, catering, and travel services operations worldwide.
The Group currently has 314 aircraft on order, including 61 Airbus A350s and 205 Boeing 777X jets.
