Emirates maintains position as the world’s most profitable airline

The Emirates Group has once again set a new industry benchmark, reporting its highest-ever half-year results and reaffirming Emirates Airline’s status as the most profitable airline carrier in the world. The Group delivered a record profit before tax of AED 12.2 billion (US$ 3.3 billion) for the first six months of the 2025–26 financial year, representing a 17% increase over the same period last year. Total Group revenue climbed by 4% to AED 75.4 billion (US$ 20.6 billion), reflecting steady global demand for travel, robust operations, and continued customer preference for Emirates’ premium offerings.

After accounting for taxes, the Group’s net profit stood at AED 10.6 billion (US$ 2.9 billion), up 13% year-on-year. EBITDA reached AED 21.1 billion (US$ 5.7 billion), up 3% from the previous year’s AED 20.4 billion (US$ 5.6 billion), underscoring the Group’s strong underlying financial performance. As of September 30, 2025, the Emirates Group maintained a record cash balance of AED 56.0 billion (US$ 15.2 billion), compared to AED 53.4 billion (US$ 14.6 billion) in March 2025, enabling the company to fund aircraft deliveries, repay existing loans, and finance ongoing expansion from its own reserves. During the period, the Group also paid the remaining AED 2 billion (US$ 545 million) in dividends from the AED 6 billion (US$ 1.6 billion) declared for the 2024–25 fiscal year.

His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “The Group has once again delivered an outstanding performance, surpassing our half-year results of last year to achieve a new record profit for H1 2025-26. I’m delighted to note that Emirates maintains its position as the world’s most profitable airline for this half-year reporting period.

“This performance was primarily driven by the unflagging demand and growing customer preference for our product and services, which drove revenue growth and profitability.

“Emirates and dnata have invested billions to continually enhance our products and services, to bring new products to market, to improve our operations through innovation and technology, and to look after our employees who ensure our customers’ safety and satisfaction. These are core to our DNA. 

“The Group’s strong profitability enables us to continue making these investments, and to scale up our proven business models in concert with Dubai’s growth as a global city of choice for talent, for businesses, and for tourists.”

HH Sheikh Ahmed added: “Global demand for air transport and travel services has been buoyant, despite geo-political events and economic concerns in some markets. We expect this demand resilience to continue for the rest of 2025-26 and look forward to increasing our capacity to grow revenues as new A350 aircraft join the Emirates fleet, and new facilities come online at dnata.”

To meet increasing operational needs, the Group’s workforce expanded by 3% to 124,927 employees by the end of September 2025. Recruitment drives continue across both Emirates and dnata to support future business requirements.

Emirates Airline: Expanding Network and Setting New Financial Records

Emirates Airline maintained its dominance in global aviation, posting a record pre-tax profit of AED 11.4 billion (US$ 3.1 billion)—a 17% rise from last year—on revenue of AED 65.6 billion (US$ 17.9 billion), which grew 6%. Net profit after tax rose to AED 9.9 billion (US$ 2.7 billion), an increase of 13%. The airline’s performance was propelled by strong travel demand across markets and growing customer preference for its award-winning services and premium cabin products.

Between April and September 2025, Emirates expanded its global reach by launching new routes to Danang, Siem Reap, Shenzhen, and Hangzhou, bringing its network to 153 airports across 81 countries. The airline also increased flight frequencies to key destinations including Riyadh, Muscat, Johannesburg, Rome, and Taipei, while signing new codeshare and interline agreements with Air Seychelles, Condor, and Aurigny to enhance connectivity.

Emirates took delivery of five new Airbus A350 aircraft during the reporting period and rolled out 23 refurbished aircraft—six A380s and seventeen Boeing 777s—under its US$ 5 billion cabin retrofit program. These upgrades expanded the availability of the airline’s Premium Economy seats to 61 destinations. On the ground, Emirates unveiled “Emirates First,” an exclusive check-in experience for First Class passengers and Platinum Skywards members at Dubai International Airport. The airline also accelerated its retail expansion with new concept travel stores opening in Accra, Bangkok, Geneva, Jakarta, Mauritius, Osaka, Seoul, and Singapore.

Emirates continued to advance its sustainability agenda by adopting sustainable aviation fuel (SAF) at 37 airports and joining the Aviation Circularity Consortium (ACC), a global initiative promoting circular economy practices in the aviation sector.

During the first half of 2025–26, Emirates also strengthened its global brand visibility through major sports partnerships. The airline became Platinum Partner of FC Bayern Munich, Official Main Sponsor of Real Madrid Basketball, and Official Airline Partner of the Investec Champions Cup and European Professional Club Rugby Challenge Cup. It also extended its partnerships with the ATP Tour and Olympique Lyonnais until 2030.

Operationally, Emirates increased total capacity by 5% to 31.3 billion Available Tonne Kilometres (ATKM), while passenger traffic rose 4%, with 27.8 million passengers carried in the first six months. The airline maintained a high average Passenger Seat Factor of 79.5%. Emirates SkyCargo moved 1.25 million tonnes of freight, up 4%, supported by the addition of three new Boeing 777 freighters. However, cargo yields dipped by 6% due to market softening in certain sectors.

The cargo division launched Emirates Courier Express, a door-to-door delivery solution for businesses, further diversifying its logistics offerings. Emirates Flight Catering recorded a 13% increase in external customer revenue, producing 7.7 million meals for 116 airlines. Meanwhile, Emirates Leisure Retail secured full ownership of Air Ventures LLC in the United States, expanding its airport retail and hospitality portfolio.

Overall, Emirates’ operating costs increased by 4%, consistent with the expansion of operations, with fuel accounting for 30% of total expenditure. The airline’s EBITDA rose to AED 19.7 billion (US$ 5.4 billion), up 3% from the prior year, supported by strong passenger and cargo performance.

dnata: Record Revenue and Global Expansion

dnata, the Emirates Group’s ground handling, catering, and travel services arm, also achieved a record-breaking half-year, posting a pre-tax profit of AED 843 million (US$ 230 million)—a 17% increase from last year—and a record revenue of AED 11.7 billion (US$ 3.2 billion), up 13%. Net profit after tax rose by 22% to AED 697 million (US$ 190 million), while EBITDA climbed 5% to AED 1.4 billion (US$ 372 million).

The company’s airport services remained its primary revenue driver, contributing AED 5.5 billion (US$ 1.5 billion), up 15% year-on-year, as dnata handled 450,903 aircraft turns—an increase of 15%—and 1.59 million tonnes of cargo, up 3%, particularly in Italy, Australia, the UK, and the UAE. Its catering and retail division contributed AED 4.1 billion (US$ 1.1 billion), up 11%, while its travel division generated AED 2.0 billion (US$ 538 million), also up 11%, with total transaction value rising 9% to AED 5.0 billion (US$ 1.4 billion).

dnata strengthened its business portfolio through several strategic initiatives. It launched its airport hospitality brand marhaba in the UK, invested €3 million in WonderMiles—a next-generation booking platform—and divested its 75% stake in Super Bus, the UAE-based sightseeing tour company. The firm also unveiled a US$ 110 million plan to introduce 800 new ground support equipment units across its global network, aligning with its commitment to lower emissions and enhance efficiency.

In a significant move toward global branding, dnata entered its first major sports sponsorship agreement, becoming a Founding Partner of Dubai Basketball, the city’s first professional basketball team.

With strong performance across all business divisions, dnata’s half-year results highlight its operational resilience, customer-focused innovation, and steady expansion into new markets.

Together, Emirates and dnata continue to drive the Emirates Group’s legacy of excellence—building on strong financial results, world-class service, and an enduring vision to shape the future of global aviation.