Emirates Group Achieves Historic Figures: Record Profit of $6.6 Billion in FY 2025-26
Emirates Group has presented its annual results for the 2025-26 period, consolidating its position as a financial powerhouse within the global aviation industry. Despite a complex geopolitical environment that impacted operations during the final quarter of the fiscal year, the Group achieved unprecedented levels of profit, revenue, and cash reserves, reaffirming the resilience of its Dubai-based business model.
Financial Results: A Year of Unprecedented Milestones
For the financial year ending March 31, 2026, the Emirates Group reported a record Profit Before Tax (PBT) of AED 24.4 billion ($6.6 billion), representing a 7% increase over the previous year. This performance is underpinned by revenue reaching AED 150.5 billion ($41.0 billion), up 3% from the prior fiscal period.
The Group’s financial strength is further reflected in its liquidity position, with cash assets rising to AED 59.6 billion ($16.200 million), a 12% growth. Following the implementation of the new corporate tax rate in the United Arab Emirates (UAE)—which increased from 9% to 15% due to Pillar Two tax regulations—the final net profit stood at AED 21.0 billion ($5.7 billion).
Emirates: World’s Most Profitable Airline
Emirates airline has once again validated its title as the most profitable carrier on the planet during this period. Key operational data include:
- Record Profit Before Tax: AED 22.8 billion ($6.2 billion).
- Revenue: AED 130.9 billion ($35.7 billion), a 2% increase year-over-year.
- Net Profit Margin: A robust 15.0%.
- Passenger Traffic: 53.2 million passengers, with a seat load factor of 78.4%.
This financial success allowed the Group to declare a dividend of AED 3.5 billion ($1.0 billion) to its owner, the Investment Corporation of Dubai.
→ Emirates Adds First Starlink Equipped Airbus A380 to Its Fleet
Resilience Amid Geopolitical and Operational Challenges
The excellent performance seen during the first 11 months of the year was interrupted on February 28, 2026, by intense military activity that affected commercial air traffic in the Gulf region. In response to this crisis, the airline and dnata (the airport services division) mobilized resources to ensure business continuity and the safety of their assets.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, highlighted that while passenger capacity remains below pre-disruption levels, cargo operations have intensified to secure the flow of essential goods through Dubai International Airport (DXB).
Strategic Investment in Fleet and Customer Experience
During the 2025-26 fiscal year, the Group made investments totaling AED 17.9 billion ($4.9 billion) in new aircraft, facilities, and technology.
Fleet Expansion
Emirates received 15 Airbus A350 aircraft, bringing its fleet of this model to 19 units operating to 21 destinations. At the close of the year, the total fleet numbered 277 units with an average age of 10.8 years. The order book remains massive, with 367 aircraft pending delivery (including Boeing 777X and 787 Dreamliner), with deliveries scheduled through 2038.
Innovation and Comfort
- Retrofit: The $5 billion cabin modernization program continues at a steady pace; 91 aircraft now feature renovated interiors, including the Premium Economy cabin.
- Connectivity: An agreement was signed with Starlink to offer high-speed Wi-Fi, with 21 aircraft already equipped by the end of March.
- Ground Services: The opening of the “Emirates First” lounge in Dubai’s Terminal 3 and new chauffeur-drive services in international destinations such as Tokyo.
Cargo and Airport Services: dnata and SkyCargo
Emirates SkyCargo reported an outstanding year, transporting 2.4 million tonnes of freight, a 3% increase. The addition of five new Boeing 777 freighters allowed for a 13% increase in cargo capacity, launching innovative solutions such as “Emirates Courier Express” for cross-border door-to-door shipments.
For its part, dnata recorded a record profit before tax of AED 1.6 billion ($437 million), with revenues growing 12% to AED 23.6 billion. Emirates Flight Catering also contributed significantly, supplying 16.2 million meals for over 100 airline customers.
Outlook for the 2026-27 Fiscal Year
While market stability depends on the final resolution of regional hostilities, the Emirates Group enters the new fiscal year with an extremely strong cash position.
The strategy for 2026-27 will focus on:
- Scaling operations back to pre-disruption levels.
- Maintaining the aircraft delivery and modernization schedule.
- Leveraging fuel hedging secured through the 2028-29 period.
- Continuing the growth of its workforce, which already exceeds 130,919 employees globally.
With a proven business model and Dubai as the nexus of global trade, the Emirates Group reaffirms its ambition to lead global aviation through innovation and operational excellence.
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Un apasionado por la aviación, Fundador y CEO de Aviación al Día.