Emirates Group posts record half-year profit

By Tuba Ongun

ANKARA (AA) – Emirates Group ran a record-breaking 10.4 billion Emirati dirhams (approximately $2.8 billion) profit before tax in the first half of 2024-25, bolstered by strong operating performance and rising global demand.

The figure was up 1% over the same period last year, according to a statement from the company on Thursday.

This leap in earnings was driven by a 5% year-on-year revenue growth to 70.8 billion Emirati dirhams ($19.3 billion), thanks to strong customer demand across its business divisions.

The first-time impact of the UAE's corporate income tax, introduced last year, was evident in Emirates' financials.

After a 9% tax deduction, the group’s net profit stood at 9.3 billion Emirati dirhams ($2.5 billion), showcasing robust resilience despite the new fiscal charges.

Emirates airline, the group’s flagship carrier, saw a 3% rise in its passenger numbers to 26.9 million this April-September.

The capacity in available seat kilometers jumped 4% during the same period.

The airlines' revenues rose 5% year-on-year to 62.2 billion Emirati dirhams ($16.9 billion), with a profit before tax of 9.7 billion dirhams ($ 2.6 billion), up 2% compared to the same period last year.

Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO of Emirates airline and group, underlined the importance of Dubai’s status as a global hub, calling the record performance a testament to the city’s growth as a preferred global destination.

The group has surpassed its previous year's record performance, and the profitability allows the company to make strategic investments to ensure long-term success, he said.

Emirates has added routes to major cities such as Bogota, Angola’s capital Luanda, and Cebu, the Philippines, bringing its total network to 148 destinations in 80 countries.

Emirates SkyCargo, the group’s cargo division, contributed significantly to the financial upturn. With a 16% increase in freighter volume and new aircraft orders, the division saw notable growth in cargo yields of 11%, spurred by high demand from regions like China and Dubai.