DUBAI: The Emirates Group has announced a record-breaking half-year profit after tax of Dh9.3 billion (US$2.5 billion) for the first six months of 2024-25, bolstered by rising customer demand and ongoing expansion efforts.
The group recorded an Dh10.4 billion profit before tax, marking a significant achievement for the company in its first financial year under the UAE’s newly enacted 9% corporate income tax.
The Group’s total revenue for the period reached Dh70.8 billion (US$19.3 billion), a 5% increase from the same period last year. The growth reflects steady demand across Emirates Airline’s passenger and cargo operations and dnata’s global aviation services.
Emirates Group also reported a solid cash balance of Dh43.7 billion (US$11.9 billion) as of 30th September 2024, despite substantial investments and dividend payments.
Highlighting Emirates’ robust performance, Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, tweeted: “I am proud to announce that The Emirates Group has surpassed its record performance of last year to deliver a fantastic result for the first half of 2024-25. This again illustrates the power of our proven business model working in combination with Dubai’s growth trajectory as a city of choice to live, work, visit, connect through, and do business in.”
The group's strategic growth plan includes increasing capacity as new aircraft join the Emirates fleet, as well as new dnata facilities. “We expect customer demand to remain strong for the rest of 2024-25, and we look forward to increasing our capacity to grow revenues,” Sheikh Ahmed added.
Expansion & Innovations
During the first half of 2024-25, Emirates launched or expanded services to numerous destinations, including Amsterdam, Madrid, and Bogotá. It introduced new partnerships with airlines and transport operators, enhancing connectivity options through codeshare and intermodal agreements with partners like AirPeace, Iceland Air, and SNCF Railway.
The Group has also invested Dh44 million to open new Emirates Lounges in London and Jeddah, as part of a broader project to improve customer experiences on the ground. Emirates’ ongoing retrofit programme has already deployed upgraded A380s and Boeing 777s to various routes, with plans to expand these offerings by year-end.
Investments in Sustainability
In line with Emirates' sustainability objectives, the airline is increasing its use of sustainable aviation fuel (SAF) and is an active participant in the Aviation Impact Accelerator (AIA) initiative at the University of Cambridge. Emirates signed a major new sponsorship deal as the official airline partner of Wimbledon and extended existing partnerships with the International Cricket Council (ICC) and Portugal's SL Benfica football club.
dnata’s global growth
dnata, the Group’s aviation services subsidiary, saw an 11% increase in revenue to Dh10.4 billion (US$2.8 billion). However, its profit before tax dropped by 5% to Dh720 million due to a one-off impairment charge. In airport services, dnata secured new contracts and strengthened its client base, demonstrating its resilience and growth in international markets.
The Emirates Group’s latest financial results underscore its strategic agility and adaptability within a highly dynamic aviation industry. With ongoing investments in infrastructure, technology, and environmental initiatives, Emirates remains poised for continued growth. “The outlook is positive, but we don’t intend to rest on our laurels. We will stay agile in deploying our capacity and resources in a dynamic marketplace,” Sheikh Ahmed emphasised.
These half-year results highlight the Emirates Group’s strength as a leader in global aviation, with plans to drive further expansion, enhance customer experience, and contribute to Dubai’s prominence as an international hub.