BY SCM Finance Correspondent I Thursday, Nov. 06, 2025
LAGOS, Nigeria – The Emirates Group has announced its fourth consecutive record half-year performance, posting an impressive $2.9 billion (AED 10.6 billion) profit after tax for the first six months of the 2025-26 fiscal year.
This figure represents a robust 13% increase compared to the same period last year.
Before accounting for income tax charges, the Group’s profit before tax reached $3.3 billion.
The substantial earnings were underpinned by what Chairman and Chief Executive His Highness Sheikh Ahmed bin Saeed Al Maktoum described as “unflagging demand” for the Group’s products and services.
Group revenue climbed 4% year-on-year, reaching $20.6 billion (AED 75.4 billion), up from $19.3 billion recorded in the previous year’s corresponding period.
This commercial success has bolstered the Group’s liquidity, closing the half-year with a record cash position of $15.2 billion (AED 56.0 billion) as of September 30, 2025, an increase from $14.6 billion just six months earlier.
Airline and Operational Strength
The core Emirates airline maintained its position as the most profitable airline for the reporting period, contributing a profit after tax of $2.7 billion (AED 9.9 billion), also a 13% jump from the prior year.
Operationally, the airline saw a 5% increase in overall capacity, measured in Available Tonne Kilometres (ATKM), driven by expanded flight operations and the delivery of five new A350 aircraft. Emirates carried 27.8 million passengers, a 4% rise compared to the previous year, although the average Passenger Seat Factor saw a marginal dip to 79.5% from 80.0%.
The expansion was supported by a growing workforce, with the Group’s employee base increasing by 3% to 124,927.
Meanwhile, its subsidiary dnata also reported strong growth, driven by increased activity across its global cargo, ground handling, catering, and travel services segments.
Investment and Outlook
The Group’s strong cash flow has allowed it to service debt obligations, fund new aircraft deliveries, and pay the remaining $545 million (AED 2 billion) in dividends to its owner from the $1.6 billion declared in the 2024-25 financial year.
Investment remains a core focus. The airline continued its multi-billion-dollar retrofit programme, rolling out fully refreshed interiors on 23 aircraft during the six months to September.
Emirates also made strategic investments in its global brand visibility, signing new multi-year sponsorship deals with major European sports teams like FC Bayern Munchen and Real Madrid Basketball.
Looking ahead, HH Sheikh Ahmed indicated that global demand for air transport is expected to remain “buoyant,” despite global economic and geopolitical uncertainties.
The Group plans to capitalise on this resilience by increasing capacity further as new A350 aircraft join the fleet and new facilities for dnata become operational.
