Emirates Group Reports Record Profits, Rewards Staff with 20-Week Bonus

Key facts

• Emirates Group achieved record profits and revenue for the 2025-26 financial year.
• The Group declared a 20-week salary bonus for employees, exceeding initial targets.
• Profit before tax reached Dh22.8 billion, a 7% year-on-year increase.
• Revenue climbed to Dh130.9 billion, up 2% from the previous year.
• Cash assets hit an all-time high of Dh54.9 billion, a 10% increase.
• EBITDA stood at Dh41.1 billion.
• The Group paid a dividend of Dh3.5 billion to its owner, the Investment Corporation of Dubai.
• Emirates carried 53.2 million passengers with a seat factor of 78.4%.

Record Earnings Fuel Generous Employee Bonus

Emirates Group has surprised its global workforce with a bonus equivalent to 20 weeks of salary, a gesture far exceeding the 13-week payout initially tied to performance metrics. This substantial reward follows the announcement of record-breaking profits and revenues for the 2025-26 financial year, underscoring a remarkable turnaround and robust financial health. The Group's chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, conveyed his gratitude in an emotional message, acknowledging the "bravery and incredible resilience" of employees during "one of the most complex and challenging times in our history." He lauded their commitment and passion, which enabled the airline to not only navigate unprecedented disruptions but to emerge stronger and more profitable than ever before.

Navigating a Year of Stark Contrasts

The financial year, which concluded on March 31, 2026, presented a narrative of two distinct halves. For the initial eleven months, the Group advanced its strategic priorities with strong momentum. However, a sudden and unprecedented situation emerged from March 1, forcing a fight to restart hub operations. Despite facing significant operational disruptions in the final month, Emirates retained its standing as the world's most profitable airline. The company closed the year "breaking almost every financial record to date," achieving an all-time high profit before tax and revenue, and building "record level" cash reserves. This resilience defied critics who had suggested a decline for Dubai and the Emirates Group.

Financial Milestones and Operational Achievements

a profit before tax of Dh22.8 billion for the 2025-26 period, marking a 7% increase year-on-year. Revenues reached Dh130.9 billion, a 2% rise from the previous year, driven by expanded network reach and strategic partnerships covering over 1,700 cities. The Group's EBITDA stood at Dh41.1 billion, reflecting strong operating profitability. Furthermore, cash assets reached their highest-ever level at Dh54.9 billion, a 10% increase compared to March 31, 2025. The airline carried 53.2 million passengers, maintaining a passenger seat factor of 78.4% with increased yields reflecting sustained demand.

Impact of Gulf Airspace Disruption and Strategic Response

The latter part of the financial year was significantly impacted by military activity in the Gulf region, which caused widespread disruption to global commercial air traffic from late February. This event plunged regional aviation into chaos, affecting schedules and capacity. However, Dubai's robust infrastructure and cohesive aviation ecosystem, fostered by years of investment, enabled the government to swiftly secure safe corridors for commercial flights. Emirates and its subsidiary dnata mobilized resources to support affected customers and ensure business continuity. While passenger capacity remained lower than pre-disruption levels, cargo operations were significantly ramped up to facilitate the movement of essential goods into and through the UAE.

Investment in Future Growth and Workforce Expansion

The Emirates Group demonstrated its commitment to future growth by investing AED 17.9 billion (US$ 4.9 billion) in new aircraft, facilities, equipment, and advanced technologies during the 2025-26 fiscal year. This investment underpins the Group's expansion plans and its pursuit of enhanced operational capabilities. Reflecting its growing operations, the Group's total workforce expanded by 8% to 130,919 employees. Both Emirates and dnata continued their global recruitment efforts to support expanding operations and bolster future capabilities. The Group also declared a dividend of Dh3.5 billion to its owner, the Investment Corporation of Dubai (ICD).

Navigating Costs and Tax Changes

Fuel and employee costs remained the primary components of the Group's operating expenses. Despite an overall 2% increase in total operating costs, lower fuel prices helped to offset the rise in flying activity. The airline's fuel bill decreased slightly to Dh31.2 billion from Dh32.6 billion in the prior year, as a 7% reduction in average fuel prices counteracted a 1% increase in uplift due to higher flying hours. Additionally, the UAE corporate tax rate applied to the Emirates Group increased from 9% to 15% following the adoption of Pillar Two tax rules. After accounting for this increased tax charge, the Group's profit after tax stood at AED 21.0 billion (US$ 5.7 billion), representing a 3% increase from the 2024-25 fiscal year.

A Resilient Model Poised for Future Success

Sheikh Ahmed bin Saeed Al Maktoum reiterated confidence in the Emirates Group's business model, emphasizing its strength and resilience. He expressed gratitude to the leadership of Dubai, including HH Sheikh Mohamed bin Rashid Al Maktoum, HH Sheikh Hamdan, and HH Sheikh Maktoum, for their unwavering support of the aviation sector. The Group's ability to navigate crises, focus on customers and people, and bounce back stronger positions it for continued success in the dynamic global aviation landscape. The chairman concluded by encouraging employees to believe in the collective future of Dubai and the Emirates Group, drawing confidence from their proven resilience and ability to overcome challenges. He urged them to "back yourself and continue to lead the way as the best professionals in the business."

The bottom line

• Emirates Group has achieved record financial results for the 2025-26 fiscal year, cementing its status as the world's most profitable airline.
• Employees were rewarded with a 20-week salary bonus, reflecting the company's strong performance and appreciation for their dedication.
• The airline successfully navigated significant disruptions in the Gulf airspace during its final financial month.
• Strategic investments in fleet, technology, and infrastructure continue to drive the Group's growth and operational capabilities.
• Despite increased corporate tax rates, a profit after tax of AED 21.0 billion.
• The Group's robust cash reserves and strong operating profitability underscore its resilience and future potential.