The Emirates Group has posted its highest-ever financial results, cementing its position as the most profitable aviation group in the world for the 2024-25 period. The Group’s performance includes record profits, revenue, and cash reserves, as both Emirates and dnata drove growth in their respective sectors, outpacing expectations and setting new benchmarks for the industry.

For the fiscal year ending 31 March 2025, the Emirates Group’s 2024-25 Annual Report showed: 

• Highest EBITDA to date: AED 42.2 billion (US$ 11.5 billion)
• Record revenue: AED 145.4 billion (US$ 39.6 billion), a 6% increase from last year.
• Record profit before tax: AED 22.7 billion (US$ 6.2 billion), a rise of 18% compared to the previous year.
• Record cash assets: AED 53.4 billion (US$ 14.6 billion), up 13% from 2023-24.

Emirates, has now also earned the title of the world’s most profitable airline, showing:

• Highest cash asset levels to date: AED 49.7 billion (US$ 13.5 billion), a 16% increase YoY.
• Record profit before tax: AED 21.2 billion (US$ 5.8 billion), a 20% increase from the prior year
• Record revenue: AED 127.9 billion (US$ 34.9 billion), up 6%

dnata, the Group’s global travel and logistics arm, also contributed to this record performance with:

• Strong cash assets: AED 3.7 billion (US$ 1.0 billion)
• Record profit before tax: AED 1.6 billion (US$ 430 million), up 2%
• Record revenue: AED 21.1 billion (US$ 5.8 billion), an impressive 10% rise

In line with its strong financial performance, the Emirates Group declared a dividend of AED 6.0 billion (US$ 1.6 billion) to owners ICD (Investment Corporation of Dubai.

This year also marked the first application of the UAE’s corporate tax (introduced in 2023) to the Group. After factoring in the 9% tax, the Group’s profit after tax stood at AED 20.5 billion (US$ 5.6 billion). The success has been attributed to: 

Visionary leadership

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and Group, attributed this success to Dubai’s strategic planning, forward-thinking leadership, and a relentless focus on customer satisfaction and service quality. Sheikh Ahmed praised the Emirates Group’s resilience, which has been instrumental in navigating geopolitical and economic challenges while continually raising the bar for aviation and tourism standards.

Investment and expansion fuel growth

For the 2024-25 period, the Emirates Group made substantial investments in its fleet, facilities, and digital capabilities. The Group invested AED 14.0 billion (US$ 3.8 billion) to enhance its operations, including expanding its aircraft fleet and improving customer experiences across the board. The Group’s workforce also grew by 9%, reaching an all-time high of 121,223 employees, 

Emirates: pioneering air travel

Emirates continues to set industry standards, with a 4% growth in its total passenger and cargo capacity to 60.0 billion ATKMs in 2024-25. Its success was reflected in a record profit after tax of AED 19.1 billion (US$ 5.2 billion), a 10% increase from last year. The airline carried 53.7 million passengers and achieved a Passenger Seat Factor of 78.9%.

The airline introduced its first Airbus A350 into its fleet to include the highly anticipated Premium Economy Class. It also retrofitted 99 aircraft for a complete cabin refresh, totaling a US$ 5.0 billion investment. Emirates also secured 314 aircraft in its order book, with deliveries to continue in the coming years.

dnata: expanding global reach

dnata, the Group’s travel services and logistics division, continued its growth trajectory by securing new contracts and expanding its operational footprint. The company made significant investments in new facilities and upgraded equipment, including electric and hybrid vehicles to enhance its sustainability efforts.

Key wins for dnata included securing long-term contracts with major airlines such as Etihad Airways and British Airways, alongside operational expansions at key locations worldwide. Additionally, dnata’s catering and retail services experienced solid growth, contributing AED 7.1 billion (US$ 1.9 billion) to its revenue.

As the Group looks to the 2025-26 financial year, it aims to continue meeting growing demand through strategic investments in its network, aircraft, facilities, and cargo capabilities.