DUBAI– The Emirates Group (EK) has reported a record profit before tax of AED 12.2 billion (US$3.3 billion) for the first half of the 2025-26 financial year, marking its fourth consecutive year of record-breaking half-year results.
After accounting for income tax, the Group’s profit after tax reached AED 10.6 billion (US$2.9 billion), up 13% year-on-year. The results highlight the Group’s sustained financial strength, driven by robust passenger demand and operational efficiency across Emirates Airline (EK) and dnata.
World’s Most Profitable Airline
The Emirates Group’s revenue rose to AED 75.4 billion (US$20.6 billion) for the first six months of 2025-26, reflecting a 4% increase from AED 70.8 billion (US$19.3 billion) last year. Its EBITDA climbed 3% to AED 21.1 billion (US$5.7 billion), demonstrating solid core profitability.
The Group ended the period with a record cash balance of AED 56 billion (US$15.2 billion), supporting ongoing investments in fleet expansion, debt servicing, and infrastructure development.
Chairman and Chief Executive HH Sheikh Ahmed bin Saeed Al Maktoum attributed the strong performance to persistent global travel demand and customer preference for Emirates’ services. He confirmed plans to expand capacity as new Airbus A350 aircraft join the fleet and dnata scales operations in key markets.
The Group’s workforce grew by 3% to 124,927 employees by September 2025, reflecting operational expansion and recruitment to meet rising demand.
Emirates Airline: Record Profit
Emirates Airline (EK) reported a record half-year profit before tax of AED 11.4 billion (US$3.1 billion), up from AED 9.7 billion (US$2.6 billion) last year.
Profit after tax rose 13% to AED 9.9 billion (US$2.7 billion). Revenue increased 6% to AED 65.6 billion (US$17.9 billion), supported by high passenger volumes and continued demand for premium cabins.
During the first half of 2025-26, Emirates launched new routes to Danang (DAD), Siem Reap (REP), Shenzhen (SZX), and Hangzhou (HGH), expanding its network to 153 airports across 81 countries. Additional weekly flights were added to key destinations, including Antananarivo (TNR), Johannesburg (JNB), Muscat (MCT), Rome (FCO), Riyadh (RUH), and Taipei (TPE).
The airline’s operational capacity grew by 5% to 31.3 billion Available Tonne Kilometres (ATKM). Passenger numbers reached 27.8 million, a 4% increase from the same period last year, with an average seat factor of 79.5%. Emirates SkyCargo transported 1.25 million tonnes, maintaining steady demand despite softer cargo yields.
Fleet expansion remained a focus. Emirates received five new Airbus A350s and refurbished 23 aircraft under its US$5 billion retrofit program, enhancing onboard comfort and expanding Premium Economy availability to 61 routes. On the ground, Emirates opened a new “Emirates First” check-in area at Dubai International Airport (DXB), elevating its premium travel experience.
Marketing efforts strengthened with new sponsorships, including FC Bayern Munich, Real Madrid Basketball, and the ATP Tour. Emirates also continued its environmental initiatives, uplifting Sustainable Aviation Fuel (SAF) at 37 airports and joining the Aviation Circularity Consortium to promote circular economy practices in aviation.
dnata: Record Revenue and Global Expansion
dnata achieved a new record half-year revenue of AED 11.7 billion (US$3.2 billion), a 13% year-on-year increase. Profit before tax rose 17% to AED 843 million (US$230 million), while EBITDA reached AED 1.4 billion (US$372 million).
The company’s airport operations contributed AED 5.5 billion (US$1.5 billion), supported by growth in Italy, Australia, the UK, and the UAE.
dnata handled 450,903 aircraft turns—up 15%—and 1.59 million tonnes of cargo, reflecting expanding operations, including new activities at Rome Fiumicino Airport (FCO).
Catering and retail revenue grew 11% to AED 4.1 billion (US$1.1 billion), driven by rising demand in Australia and the UK, along with contract revisions reflecting cost changes. dnata’s travel division recorded AED 2.0 billion (US$538 million) in revenue and AED 5.0 billion (US$1.4 billion) in total transactional value.
Strategic moves included a US$110 million investment in 800 new ground support equipment units, the launch of the marhaba brand in the UK, and a minority stake in WonderMiles to enhance digital travel solutions. dnata also entered its first major sports sponsorship with Dubai Basketball, underscoring its growing brand footprint.
Strong Outlook for 2025-26
The Emirates Group expects sustained demand in global air transport through the remainder of 2025-26, despite geopolitical and economic challenges.
Continued investments in fleet modernization, technology, and customer experience are expected to strengthen profitability across both Emirates and dnata.
The Group’s performance underscores Dubai’s position as a key global aviation hub and reaffirms Emirates’ status as the world’s most profitable airline for the reporting period.
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