Emirates Group records Dh3.6 billion in profits in first half of 2026-27

The Emirates Group remained profitable during the first half of the 2026-27 financial year despite regional challenges, rising fuel prices and disruptions across the aviation sector. However, its profit after tax declined significantly compared with the same period last year.

After accounting for income tax charges, the Group reported a profit after tax of Dh3.6 billion, representing a 66% decrease year-on-year.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, credited the performance to the dedication of employees and their ability to manage challenging operating conditions.

He also acknowledged the UAE government's continued support, which helped maintain operations and ensure stability across the aviation sector.

Regional Challenges Make the Last Six Months Demanding

The first six months of 2026-27 proved challenging for the aviation industry across the GCC. Regional conflict involving the US, Israel and Iran resulted in airspace restrictions, flight diversions and increased operating expenses.

Airlines faced longer flight routes, higher fuel consumption, increased insurance premiums and uncertainty among passengers.

Despite these difficulties, the Emirates Group recorded a profit before tax of Dh4.1 billion.

Sheikh Ahmed said customer demand remained strong, while cargo operations made a significant contribution to the Group's revenue and cash flow.

He also highlighted that global jet fuel prices doubled compared with the same period last year, putting additional pressure on operating costs and profitability.

He thanked the UAE government for its decisive response and coordination with aviation stakeholders, which supported the safe resumption of air transport following military activity across the Gulf region.

Emirates Group Revenue Declines by 12%

The Group reported revenue of Dh66.2 billion during the first six months of 2026-27, compared with Dh75.4 billion in the same period last year, marking a 12% decline.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) reached Dh12.5 billion, down 41% from Dh21.1 billion reported last year.

The Group's cash position stood at Dh54.1 billion as of September 30, 2026, compared with Dh59.6 billion on March 31, 2026.

The company used its cash reserves to support business requirements, including aircraft pre-delivery payments and existing debt obligations.

The Group also paid the remaining Dh2 billion dividend to its owner, the Investment Corporation of Dubai (ICD), from the Dh3.5 billion declared for the 2025-26 financial year.

Emirates Group Employee Numbers Decline by 2%

Sheikh Ahmed said the Group entered the second half of the 2026-27 financial year with measured optimism.

He added that the company would continue monitoring operating costs and geopolitical developments while maintaining its focus on long-term growth.

He expressed confidence in the Group's ability to manage market uncertainty and higher fuel prices, supported by its strong cash position and established business foundation.

As of September 30, 2026, the Emirates Group employed 128,237 people, representing a 2% decrease compared with March 31, 2026.

Emirates Group Continues Its Long-Term Investments

Despite lower profits and challenging operating conditions, the Emirates Group has continued investing in its business.

Sheikh Ahmed highlighted the company's focus on expanding its fleet, improving customer experience and developing future capabilities.

The Group aims to strengthen its readiness to capture new growth opportunities while maintaining its position in the global aviation industry.

Its continued investments reflect a long-term strategy focused on operational efficiency, customer satisfaction and sustainable business growth.