Both of the Group's key entities, Emirates airline and the Dubai National Air Travel Agency (dnata), contributed significantly to this exceptional performance, each reporting record revenues for the 2024-25 financial year.
Emirates airline cemented its position as the globe's most profitable carrier, posting a record profit before tax of $5.8 billion, a substantial 20% increase from the previous year. The airline also reported its highest-ever level of cash assets, reaching $13.5 billion, a 16% surge compared to March 31, 2024.
In light of this outstanding financial performance, the Emirates Group has declared a significant dividend of $1.6 billion to its owner, the Investment Corporation of Dubai (ICD).
Notably, the 2024-25 financial year marks the first period where the UAE's corporate tax, implemented in 2023, has been applied to the Emirates Group. After accounting for the 9% tax charge, the Group's profit after tax stands at a strong $5.6 billion.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and group, attributed this remarkable success to Dubai's visionary leadership, strategic planning, coordinated execution, and the unwavering support of customers, business partners, and the people of Dubai. He stated, "It is no accident that Dubai has produced hugely successful global aviation entities including Emirates and dnata. Dubai’s aviation sector has become an influential force on the global stage..."
Reflecting on the Group's foundational principles, Sheikh Ahmed emphasized their long-standing mission: "be the best at what we do; and deliver value to Dubai, our stakeholders, and the communities we serve." He highlighted the Group's consistent focus on providing exceptional products and services, continuous investment in technology and talent, and commitment to their people, customers, and communities. He underscored their philosophy of prioritizing long-term sustainability over short-term gains.
Looking ahead to the 2025-26 financial year, Sheikh Ahmed expressed optimism and excitement, noting that the Group's strong financial standing enables continued growth and scaling of their successful business models. He acknowledged potential market jitters but reiterated the Group's agility in navigating industry volatility.
Emirates is set to enhance its network connectivity with the expected delivery of 16 Airbus A350 aircraft and 4 Boeing 777 freighters in 2025-26, providing crucial capacity to meet growing customer demand. The airline's retrofit program will also continue, ensuring a consistent and updated experience across its A380, 777, and A350 fleets.
dnata is poised for further growth, with significant facility investments coming to fruition in key markets, including new cargo handling facilities in Amsterdam, Dubai, and Erbil slated to open next year.
Sheikh Ahmed also highlighted the ongoing development of the new Al Maktoum International airport (DWC) and the broader Dubai South development, with planning teams working collaboratively to shape the future of aviation and deliver unparalleled travel experiences.
Concluding his remarks, Sheikh Ahmed expressed confidence in the Emirates Group's talented workforce and Dubai's proven success formula, stating, "...I am confident that our talented workforce and Dubai’s winning formula will empower the Emirates Group to forge an even brighter future, and deliver even more value to the people, cities and communities we serve.”