Dubai’s Emirates airline has reported record pre-tax profits for the financial year ending in March, defying concerns over global trade tensions. The carrier’s pre-tax profits reached Dh21.2 billion ($5.8 billion), a 20% increase from the previous year, marking the highest profits in the aviation sector.
Sheikh Ahmed bin Saeed Al Maktoum, Emirates’ chair and CEO, stated that demand for air travel remains strong across its network, with a notable rise in sales of premium seats. He emphasized that despite global uncertainties, including trade issues and political concerns in the U.S., Emirates had not experienced a drop in bookings for American destinations.
The airline’s impressive performance stands in contrast to other carriers, with U.S.-based Delta and Europe’s IAG (owner of British Airways) reporting lower profits. Qatar Airways, another key competitor in the region, posted $1.7 billion in pre-tax profits.
Sheikh Ahmed pointed out that the U.S. market was still performing well for Emirates, citing the airline’s ability to adapt to changes and redirect capacity as needed. The airline has long been known for its ability to navigate volatility and stay resilient.
Over the past three decades, Emirates and other Gulf carriers like Qatar Airways and Etihad have reshaped intercontinental air travel by turning the Gulf region into a major stopover hub. The airline’s growth has been bolstered by Dubai’s strategic efforts to position itself as a global aviation and tourism center. Dubai’s airport is the world’s busiest international airport, and its second airport is undergoing expansion to increase capacity further.
Emirates’ parent company, the Dubai government’s Investment Corporation of Dubai, has reported that the airline operates without financial support from the government. However, Emirates will pay a Dh6 billion dividend to its owner this year.
The airline’s revenue for the year rose 6% to Dh127.9 billion, driven by strong demand for business and first-class tickets. Premium cabins, which have seen a significant price increase since the pandemic, are key contributors to Emirates’ profitability.
In addition to the airline’s performance, the wider Emirates Group, which includes the ground-handling business Dnata, reported an 18% rise in pre-tax profits, reaching a record Dh22.7 billion.
