The Emirates Group on Thursday, November 9, announced a record half-year profit of 10.1 billion dirhams in six months, surpassing last year’s 4.2 billion dirham figure by 138 percent.
This was driven by strong demand for international travel across regions as the global aviation industry has fully recovered from the impact of the COVID-19 pandemic.
The group also reported an EBITDA of 20.6 billion dirhams, a significant improvement from 15.3 billion dirhams last year, illustrating its strong operating profitability.
The group revenue is up 20 percent to 67.3 billion dirhams from 56.3 billion dirhams.
The group’s cash position in the first half of 2023-24 was 42.7 billion dirhams as of September 30, 2023, compared to 42.5 billion dirhams on March 31, 2023.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, of Emirates Airline and Group, said, “Our profit for the first six months of 2023-24 has nearly matched our record full-year profit in 2022-23.”
“This is a tremendous achievement that speaks to the talent and commitment within the organisation, the strength of our business model, and the power of Dubai’s vision and policies that have enabled the creation of a strong, resilient, and progressive aviation sector,” he added.
The carrier, which relies on its vast global network and has no domestic routes, carried 26.1 million passengers between April 1 and September 30, a 31 percent increase compared to the same period a year ago while its cargo division lifted 1,035,000 tonnes during the same period under review.
Emirates Airline, based in Dubai, is experiencing a steady rise in passenger and cargo services to 144 airports, utilizing Boeing 777s and 104 Airbus A380s.
Emirates Group’s aircraft ground handling, cargo, travel, and flight catering services unit, dnata, saw its revenues surging by 27 percent to 9.3 billion dirhams while its profit reached 709 million dirhams compared to the same period last year’s 236 million dirhams.
Emirates Group’s dnata unit experienced a 27 percent increase in revenues to 9.3 billion dirhams, with a profit of 709 million dirhams, compared to the same period last year.
