Emirates Group Posts Record US$6.6 Billion Profit Despite Regional Disruptions
The Emirates Group has reported a record pre-tax profit of AED 24.4 billion (US$ 6.6 billion) for the 2025–26 financial year, cementing Emirates as the world’s most profitable airline despite major disruptions to air traffic in the Gulf region during the final month of the reporting period.
In its annual report released on 7 May 2026, the Dubai-based aviation giant also announced record revenues of AED 150.5 billion (US$ 41 billion), representing a 3 per cent increase from the previous year, while cash assets rose by 12 per cent to AED 59.6 billion (US$ 16.2 billion).
The Group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) reached AED 41.1 billion (US$ 11.2 billion), reflecting strong operating profitability across its airline and aviation services businesses.
Emirates airline alone recorded a pre-tax profit of AED 22.8 billion (US$ 6.2 billion), up 7 per cent from the previous year, while revenues climbed to AED 130.9 billion (US$ 35.7 billion). The airline also achieved its highest-ever cash asset position at AED 54.9 billion (US$ 15 billion).
Meanwhile, aviation services provider dnata posted a record pre-tax profit of AED 1.6 billion (US$ 437 million), with revenues rising 12 per cent to AED 23.6 billion (US$ 6.4 billion).
The Group declared a dividend of AED 3.5 billion (US$ 1 billion) to its owner, the Investment Corporation of Dubai.
Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said the results demonstrated the resilience and strength of the Emirates Group business model despite operational challenges caused by military activity in the Gulf region earlier this year.
He explained that regional instability from late February significantly disrupted global commercial air traffic, including operations in the United Arab Emirates, forcing Emirates and dnata to rapidly activate contingency measures to support passengers, staff, and operations.
However, Sheikh Ahmed said Dubai’s aviation infrastructure and coordinated response enabled a gradual restoration of services, with cargo operations recovering strongly to facilitate the movement of essential goods.
He added that the Group remained financially strong, with substantial cash reserves enabling continued investment without resorting to drastic cost-cutting measures.
During the financial year, the Emirates Group invested AED 17.9 billion (US$ 4.9 billion) in aircraft, technology, infrastructure, and equipment to support future growth.
The Group’s workforce also expanded by 8 per cent to more than 130,000 employees worldwide.
Emirates expanded its global network to 152 destinations in 80 countries during the year, launching new services to Da Nang, Hangzhou, Siem Reap, and Shenzhen. The airline also strengthened partnerships with codeshare and interline carriers, giving passengers access to more than 1,700 cities worldwide.
The carrier received 15 new Airbus A350 aircraft during the year and continued its US$5 billion cabin retrofit programme aimed at upgrading 215 aircraft with new-generation interiors and Premium Economy seating.
Passenger traffic remained strong, with Emirates carrying 53.2 million passengers during the year, while cargo operations also recorded growth, transporting 2.4 million tonnes of goods globally.
Emirates SkyCargo generated AED 16.2 billion (US$ 4.4 billion) in revenue and expanded its freighter network to 44 destinations following the addition of Bangkok, Budapest, Liege, and Tokyo Narita.
The airline also accelerated the rollout of high-speed onboard Wi-Fi through a partnership with Starlink, with 21 aircraft already equipped by the end of March.
Looking ahead, Sheikh Ahmed said the Group remains cautiously optimistic despite continuing geopolitical uncertainty involving the United States, Israel, and Iran.
He stated that Emirates has secured fuel supplies and maintained hedging arrangements through to 2028–29 to minimise exposure to fuel price volatility, while continuing investments in aircraft deliveries, infrastructure, and customer experience.
The Group also highlighted several sustainability and community initiatives, including investments in sustainable aviation fuel research, waste reduction programmes, electric ground equipment, and youth-focused sports and education projects globally.
The full Emirates Group 2025–26 Annual Report is available via The Emirates Group Annual Report.
