Emirates Group posts record half-year profits, surpassing previous records in 2024-2025

KARACHI: The Emirates Group has reported its highest-ever half-year financial results, posting a profit before tax (PBT) of AED10.4 billion ($2.8 billion) for the first six months of 2024-25. This marks a 1.0 per cent increase over the same period last year, reflecting robust demand across its business divisions.

The group's revenue reached AED70.8 billion ($19.3 billion), up 5.0 per cent from the previous year, driven by strong customer demand.

Emirates itself saw a 5.0 per cent increase in revenue, reaching AED62.2 billion ($16.9 billion), with a 2.0 per cent rise in profit before tax, amounting to AED9.7 billion ($2.6 billion). The airline's performance was bolstered by strong travel and air cargo demand across regions, alongside continued investments in enhancing its products and services.

Meanwhile, dnata, the ground services and travel division of the Emirates Group, reported an 11 per cent rise in revenue, reaching AED10.4 billion ($2.8 billion). However, the division’s profit before tax dropped by 5.0 per cent, totaling AED720 million ($196 million), largely due to a one-off impairment charge.

The UAE corporate income tax, implemented in 2023, was applied for the first time during this period. After accounting for the 9.0 per cent tax, the group’s profit after tax stood at AED9.3 billion ($2.5 billion).

Emirates Group Chairman, HH Sheikh Ahmed bin Saeed Al Maktoum, credited the group’s success to its proven business model and Dubai’s growth as a hub for travel, business and innovation. He added that profits will be reinvested into enhancing customer experiences, employee welfare and technology initiatives aimed at sustaining growth.

The group’s solid cash position of AED43.7 billion ($11.9 billion) as of 30 September 2024 supports continued investment in fleet expansion and infrastructure projects. Emirates also plans to expand its global network, launching new routes to destinations like Bogota, Madagascar, and several cities in Europe and Asia.

In the first half of the year, Emirates introduced new agreements with codeshare and interline partners, alongside significant refurbishments, such as retrofitting eight aircraft with new cabins. The airline also invested in new lounges and retail outlets, continuing to boost its brand visibility globally.

As part of its sustainability agenda, Emirates uplifted sustainable aviation fuel (SAF) in Singapore and London Heathrow for the first time. The airline also strengthened its partnerships with environmental organisations to advance sustainable aviation research and emissions reduction technologies.

Emirates SkyCargo performed exceptionally well, transporting 1.2 million tonnes of cargo in the first half, up 16 per cent from the previous year, driven by increased demand in global e-commerce and shipments to Dubai.

Emirates also continued its efforts to expand its freighter fleet with new aircraft orders.

dnata saw substantial growth across its divisions, particularly in airport services and travel, with revenue from its flight catering and retail operations increasing by 8.0 per cent. Additionally, dnata’s travel division grew 23 per cent, driven by strong performances from businesses like Imagine Cruising and Destination Asia.

As Emirates Group looks ahead to the second half of the year, HH Sheikh Ahmed expressed confidence that customer demand would remain strong, and the company would continue to adapt to market conditions to maximize opportunities for growth.