With Historic Profits, Strategic Investments, and Global Expansion, Emirates Group Emerges as the World’s Most Profitable Aviation Company in a Landmark Year
Dubai, UAE — The Emirates Group has announced a historic performance for the financial year 2024-25, setting new benchmarks across profit, revenue, EBITDA, and cash reserves—cementing its position as the world’s most profitable aviation group. This landmark year also marks the Group’s first under the UAE’s new corporate tax framework, making its achievements all the more significant.
The Group reported a record profit after tax of AED 20.5 billion, following the implementation of a 9% UAE corporate tax—applied for the first time this fiscal year. Despite this new tax burden, the Emirates Group showcased unwavering financial strength and strategic foresight, delivering exceptional value to its stakeholders.
A Record Year Across the Board
The Emirates Group’s Annual Report reveals an impressive performance across all key metrics:
- Profit before tax: AED 22.7 billion (up 18%)
- Revenue: AED 145.4 billion (up 6%)
- EBITDA: AED 42.2 billion (up 6%)
- Cash assets: AED 53.4 billion (up 13%)
This exceptional result is credited to robust contributions from both Emirates airline and dnata, as the Group expanded its global footprint to meet surging demand for premium travel and aviation services. A dividend of AED 6.0 billion was declared to its sole shareholder, the Investment Corporation of Dubai (ICD).
Visionary Leadership and Operational Resilience
Chairman and Chief Executive His Highness Sheikh Ahmed bin Saeed Al Maktoum reflected on the Group’s success:
“It is no accident that Dubai has produced hugely successful global aviation entities including Emirates and dnata… We enter the year ahead with excitement and optimism.”
The Group’s long-term vision was bolstered by AED 14.0 billion in investments this year alone—directed toward new aircraft, cutting-edge technologies, facility upgrades, and strategic acquisitions that future-proof its growth.
Emirates Airline: World’s Most Profitable Carrier
Emirates airline achieved record-breaking performance, becoming the most profitable airline in the world:
- Profit after tax: AED 19.1 billion (up from AED 17.2 billion)
- Revenue: AED 127.9 billion (up 6%)
- Passenger traffic: 53.7 million (up 3%)
- Operating cash flow: AED 40.8 billion
- Fuel costs: AED 32.6 billion, representing 31% of total costs
The airline expanded its network capacity by 4%, reaching 60 billion ATKMs, and recorded a strong seat factor of 78.9%. Passenger yields remained steady at 36.6 fils per RPKM.
A significant investment of AED 18.4 billion was committed to Emirates’ fleet retrofit programme, which now spans 219 aircraft. Emirates also introduced four Airbus A350s to its fleet by March 31 and placed orders for 10 new Boeing 777Fs, further expanding its freighter capabilities.
Emirates SkyCargo and Subsidiaries: Driving Diversified Growth
Emirates SkyCargo recorded stellar growth, transporting 2.3 million tonnes of cargo (up 7%) and generating AED 16.1 billion in revenue—accounting for 13% of the airline’s total revenue.
Subsidiaries also contributed meaningfully:
- Emirates Flight Catering: Revenue up 11% to AED 1.1 billion
- MMI/ELR: Revenue rose 6% to AED 3.1 billion
A highlight of fiscal responsibility was the full repayment of Emirates’ AED 2.75 billion corporate bond issued in 2013, supported by a strengthened cash reserve of AED 49.7 billion.
dnata: Strong, Sustainable, and Expanding
dnata delivered another record year:
- Profit before tax: AED 1.6 billion (up 2%)
- Revenue: AED 21.1 billion (up 10%)
- Aircraft turns handled: 794,091
- Cargo handled: 3.1 million tonnes
- Cash balance: AED 3.7 billion
Strategic investments of AED 579 million were directed toward new equipment, ground support innovation, and facility upgrades. dnata launched operations in Rome Fiumicino and secured new licenses in Zürich and Brussels, reinforcing its global footprint.
Its Catering & Retail division earned AED 7.1 billion, while its Travel division achieved 11% revenue growth to AED 3.9 billion, with TTV reaching AED 9.7 billion.
Sustainability and People First
Both Emirates and dnata deepened their sustainability commitments. Highlights include:
- Introduction of Sustainable Aviation Fuel (SAF) at Heathrow and Singapore
- Expansion of electric GSE fleets and use of alternative fuels
- Launch of “Aircrafted Kids” to support underprivileged children
- Support for marine conservation and education initiatives
Internally, the Group focused on employee engagement and development, launching initiatives like the Wejhaty HR hub, offering salary enhancements, and awarding scholarships to promote talent growth. The Group’s workforce grew by 9% to a record 121,223 employees.
Outlook for 2025-26: Optimism and Innovation
Looking ahead, Emirates Group remains focused on innovation, operational excellence, and customer-centric service delivery. HH Sheikh Ahmed expressed confidence in the Group’s trajectory, buoyed by continued global demand and strategic expansion.
Conclusion
Emirates Group’s 2024-25 financial year stands as a remarkable case study in global aviation leadership. Even in the face of new taxation and global challenges, the Group has not only delivered record-breaking results but reinforced its position as a pioneering force in air travel and aviation services. With its bold investments, sustainability leadership, and people-first ethos, Emirates is not just flying high—it is charting the future of aviation itself.
