The Emirates Group has announced a record-breaking half-year financial performance, with pre-tax profits reaching an impressive AED 9.3 billion ($2.5 billion) for the first six months of the fiscal year 2024-25. This represents a significant leap from the previous year, showcasing the company's robust recovery and growth trajectory after the global economic downturn triggered by the COVID-19 pandemic. This financial triumph was detailed in a recent statement where Emirates Group, a Dubai-based aviation powerhouse, reported that its total revenue climbed by 5% to AED 70.8 billion ($19.3 billion). The revenue increase was primarily driven by a surge in travel demand, reflecting the world's eagerness to return to normalcy with increased international travel.
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Emirates Airline, a key component of the Group, played a pivotal role in this financial success. The airline's revenue saw a 5% rise to AED 62.2 billion ($16.9 billion), with its profit before tax increasing by 2% to AED 9.7 billion ($2.6 billion). This growth highlights the effectiveness of Emirates' strategic decisions to expand its network and enhance its product offerings, aligning with the global recovery in air travel. The Group's performance is particularly notable as it marks the first financial period where the UAE corporate income tax, at a rate of 9%, was applied to the Emirates Group, yet this did not hinder its path to profitability.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, of Emirates Airline and Group, emphasized the significance of this achievement, attributing it to the Group's business model and Dubai's role as a global hub for business and tourism. He highlighted ongoing investments in aircraft, facilities, technology, and customer services as crucial elements fueling this success.
Furthermore, the Emirates Group's subsidiary, dnata, also contributed significantly, with its revenue jumping by 27%, reflecting a strong recovery in global air travel operations, cargo handling, and travel services. This record performance not only underscores the resilience and adaptability of the Emirates Group but also signals a positive outlook for the aviation sector, buoyed by global travel demand and strategic operational expansions.