The Emirates Group achieves an unprecedented financial performance in the fiscal year 2024-25.

Emirates Group 2024-25 Annual Report: Record Results Set Global Benchmark

The Emirates Group’s 2024-25 Annual Report marks a historic achievement, with the Group posting record-breaking results across all key financial indicators. Emirates and dnata, its core subsidiaries, delivered outstanding performances, establishing the Group as the most profitable aviation entity worldwide for the reporting period.

Financial Highlights

• Record Pre-Tax Profit: AED 22.7 billion (US$ 6.2 billion), up 18% year-on-year.
• Record Revenue: AED 145.4 billion (US$ 39.6 billion), a 6% increase.
• Record EBITDA: AED 42.2 billion (US$ 11.5 billion), up 6%.
• Strongest-Ever Cash Balance: AED 53.4 billion (US$ 14.6 billion), up 13%.
• Dividend: AED 6.0 billion (US$ 1.6 billion) declared to the Investment Corporation of Dubai.

With the introduction of the UAE’s new 9% corporate tax, the Group’s net profit after tax stands at AED 20.5 billion (US$ 5.6 billion), maintaining its leadership in global aviation profitability7.

Emirates Airline: Industry-Leading Performance

Emirates airline spearheaded the Group’s success, achieving:

• Pre-Tax Profit: AED 21.2 billion (US$ 5.8 billion), up 20%.
• Revenue: AED 127.9 billion (US$ 34.9 billion), a 6% rise.
• Cash Assets: AED 49.7 billion (US$ 13.5 billion), up 16%.
• Passengers Carried: 53.7 million, up 3%.
• Passenger Capacity: 60 billion ATKMs, a 4% increase.
• Seat Factor: 78.9%.
• Operating Cash Flow: AED 40.8 billion (US$ 11.1 billion).

Emirates expanded its network to 148 destinations in 80 countries, launching new routes and reinstating key services. Its cargo division, Emirates SkyCargo, carried 2.3 million tonnes (up 7%), generating AED 16.1 billion (US$ 4.4 billion) and contributing 13% of airline revenue.

Fuel costs were efficiently managed, dropping to AED 32.6 billion (US$ 8.9 billion) and accounting for 31% of total costs, aided by a 10% decline in average fuel prices and successful hedging strategies.

dnata: Consistent Growth Across Divisions

dnata, the Group’s air services arm, also posted record results:

• Profit Before Tax: AED 1.6 billion (US$ 430 million), up 2%.
• Revenue: AED 21.1 billion (US$ 5.8 billion), up 10%.
• Cash Assets: AED 3.7 billion (US$ 1.0 billion).

dnata handled 794,091 aircraft turns and 3.1 million tonnes of cargo, expanded operations in Europe, and invested in new equipment and facilities. Its catering and travel divisions also saw revenue growth, with catering revenue at AED 7.1 billion and travel revenue up 11% to AED 3.9 billion.

Strategic Investments and Workforce Expansion

The Emirates Group invested AED 14.0 billion in new aircraft, facilities, technology, and companies to support future growth. Emirates’ aircraft retrofit program now covers 219 aircraft with a total investment of AED 18.4 billion.

The Group’s workforce grew 9% to a record 121,223 employees, reflecting ongoing global recruitment and expansion.

Sustainability and Innovation

Emirates introduced Sustainable Aviation Fuel (SAF) at major hubs and supported marine conservation and educational initiatives. dnata expanded its electric ground support equipment fleet and adopted alternative fuels in several markets.

Risk Management

The Group saved AED 1.1 billion through proactive hedging strategies, including forward oil contracts and currency options, mitigating market volatility.

Industry Benchmark and Outlook

With these results, Emirates Group sets a new industry benchmark for profitability, operational efficiency, and resilience. Both Emirates and dnata are positioned for continued growth, with major investments and a strong cash position supporting future expansion.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, emphasized Dubai’s visionary leadership and the Group’s commitment to investing in people, technology, and customer experience as key drivers of this record performance.

Summary Table: Emirates Group 2024-25 Financials

bn = billion; AED = United Arab Emirates Dirham