Emirates Group Achieves $3.3bn in Record Half-Year Profits for 2025/26
The Emirates Group, which encompasses Emirates, Emirates Cargo, and the ground handling firm dnata, has revealed a remarkable half-year financial performance. For the initial six months of the 2025-26 fiscal year, the Group achieved a profit before tax of AED12.2 billion (approximately $3.3 billion). This marks the fourth consecutive year of record profits during this reporting period.
When accounting for income tax, the Group’s profit after tax stands at AED10.6 billion (about $2.9 billion), representing a 13% increase compared to the same timeframe in 2024/25. The strong half-yearly performance also resulted in earnings before tax (EBITDA) of AED21.1 billion ($5.7 billion), a 3% growth from AED20.4 billion ($5.6 billion) in the previous year.
The total Group revenue reached AED75.4 billion ($20.6 billion) during the first half of 2025-26, reflecting a 4% rise from AED70.8 billion ($19.3 billion) in FY2024/25. Additionally, on September 30, 2025, the Group reported an impressive cash position of AED56.0 billion ($15.2 billion), compared to AED53.4 billion ($14.6 billion) recorded on March 31, 2025.
According to the airline, the Group has leveraged its robust cash reserves to meet various business requirements, including funding new aircraft deliveries and servicing existing debts. Moreover, the remaining AED2 billion ($545 million) in dividends were paid to its owner, part of the AED6 billion ($1.6 billion) declared for the financial year 2024/25.
In response to increasing operational needs, the Emirates Group’s workforce expanded by 3% since March 31, 2025, reaching a total of 124,927 employees by September 30, 2025. The Group is actively engaging in recruitment efforts to fulfill future demands.
The Perspectives of the Chairman
Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and Chief Executive of Emirates Airline and Group, stated: “The Group has once again delivered an outstanding performance, surpassing our half-year results of last year to achieve a new record profit for H1 2025-26. I’m pleased to highlight that Emirates remains the world’s most profitable airline for this half-year reporting period.”
He continued, “This remarkable performance was largely driven by sustained demand and an increasing customer preference for our products and services, fueling both revenue growth and profitability.”
“The Emirates Group has invested billions to continually refine our products, usher in new services, and improve our operations through innovation and technology. We also prioritize the well-being of our employees, who are integral to ensuring customer safety and satisfaction.”
“The Group’s robust profitability positions us to continue these investments and scale our established business models in alignment with Dubai’s growth as a premier global city for talent, businesses, and tourism.”
Sheikh Ahmed added, “The global demand for air travel and associated services has remained strong despite geopolitical events and economic uncertainties in some regions. We anticipate this demand resilience to persist throughout the remainder of 2025-26, allowing us to enhance our capacity and revenues as new A350 aircraft join the Emirates fleet.”
Summarizing Emirates’ Latest Performance
In the airline sector, overall capacity for the first six months rose by 5% to 31.3 billion Available Tonne Kilometres (ATKs). Capacity measured using Available Seat Kilometres (ASKs) also rose by 5%, while passenger traffic, measured in Revenue Passenger Kilometres (RPKs), saw a 4% increase, achieving an average load factor of 79.5%, slightly below last year’s 80.0%.
During the period spanning April 1 to September 30, 2025, Emirates served 27.8 million passengers, a 4% increase from the previous year. The airline continued to enhance its network and connectivity options via its Dubai hub throughout this timeframe.
In the first half of 2025/26, Emirates launched new services to Danang, Siem Reap, Shenzhen, and Hangzhou. By September 30, the Emirates passenger and cargo network covered 153 airports across 81 countries and territories. The airline further improved connectivity by adding 28 weekly scheduled flights to various destinations, including Antananarivo, Johannesburg, Muscat, Rome, Riyadh, and Taipei.
To enhance customer connections, Emirates partnered with three codeshare and interline associates, including Air Seychelles, Condor, and Aurigny during the first six months of 2025/26.
Between April 1 and September 30, 2025, Emirates welcomed five new Airbus A350 aircraft. Additionally, 23 more aircraft—with a mix of six A380s and seventeen Boeing 777s—received interior updates as part of the airline’s $5 billion refurbishment initiative.
“This initiative enabled Emirates to introduce its latest cabin products to more markets, including the industry-renowned Emirates Premium Economy,” the airline emphasized. By September 30, 2025, Emirates Premium Economy was offered to customers flying to 61 cities.
Insights into Emirates Cargo
Emirates SkyCargo transported 1.25 million tonnes in the first half of the year, reflecting a 4% increase from the prior year. The steady customer demand for Emirates SkyCargo’s specialized products and extensive network of freighter and bellyhold cargo operations remained consistent.
Nonetheless, cargo yields dropped by 6% due to weakening demand in some market segments amid concerns over tariffs.
Emirates SkyCargo expanded its capacity with the addition of three new Boeing 777 freighters during this period.
