Emirates reports record half-year results

This is the first financial year that the UAE corporate income tax, enacted in 2023, is applied to the Emirates Group.

After accounting for the 9% tax charge, the Group’s profit after tax is AED 9.3 billion (USD 2.5 billion).

Group revenue was AED 70.8 billion (US$ 19.3 billion) for the first six months, up 5%.

The Group closed the first half year of 2024-25 with a solid cash position of AED 43.7 billion (US$ 11.9 billion) on 30 September 2024.

Sheikh Ahmed bin Saeed Al Maktoum, Chief Executive, said: “A fantastic result again illustrates the power of our proven business model working in combination with Dubai’s growth trajectory.”

“We expect customer demand to remain strong for the rest of 2024-25.”

Emirates continued to increase connectivity options through its Dubai hub.

During the first half, Emirates increased scheduled flights to eight cities: Amsterdam, Cebu, Clark, Luanda, Lyon, Madrid, Manila and Singapore.

In May, Emirates restarted daily services to Phnom Penh in Cambodia via Singapore.

In June, it launched daily services to Bogotá via Miami, expanding the airline’s South American presence to Colombia.

In September, Emirates opened a new route to Madagascar via the Seychelles.

Additionally, during the first six months of 2024-25, Emirates entered into new agreements with seven codeshare, interline, and intermodal partners: AirPeace, Avianca, BLADE, ITA Airways, Iceland Air, SNCF Railway, and Viva Aerobus.

By year end, Emirates’ latest A380 and Boeing 777 inflight experiences including Premium Economy, will be available to customers on over 30 routes.

The Group’s dnata travel division contributed AED 1.8 billion (US$ 483 million) to revenue, up 23% compared to the same period last year.

This is thanks to strong contributions from its Imagine Cruising, Destination Asia and Middle East Corporate Travel businesses.

The division reported an underlying total transactional value (TTV) sales of AED 4.5 billion (US$ 1.2 billion).