How did the Emirates Group perform financially in 2025–26?

For the year ended 31 March 2026, the Emirates Group reported record profit before tax of AED 24.4 billion (USD 6.6 billion), up 7% on the prior year, with a PBT margin of 16.2%. Group revenue reached a record AED 150.5 billion (USD 41.0 billion), up 3%, while cash assets rose 12% to AED 59.6 billion (USD 16.2 billion) and EBITDA came in at AED 41.1 billion (USD 11.2 billion). After a higher UAE corporate tax rate of 15% under Pillar Two rules, profit after tax was AED 21.0 billion (USD 5.7 billion), 3% higher than in 2024–25.

Why is Emirates described as the world’s most profitable airline in 2025–26?

Emirates reported record profit before tax of AED 22.8 billion (USD 6.2 billion), up 7% year on year, with a PBT margin of 17.4%, which the Group says is the strongest profit performance in the global airline industry for the 2025–26 reporting period. Revenue rose 2% to AED 130.9 billion (USD 35.7 billion), and profit after tax reached AED 19.7 billion (USD 5.4 billion), surpassing last year’s AED 19.1 billion (USD 5.2 billion) with a 15.0% net margin. Chairman and Chief Executive HH Sheikh Ahmed bin Saeed Al Maktoum said these results “reaffirm the strength and resilience of the Emirates Group’s business model,” even after late‑year disruption to Gulf airspace.

How did military disruptions in early 2026 affect Emirates’ operations and results?

On 28 February 2026, military activity in the Gulf region, including the UAE, led to significant disruption of commercial air traffic and the temporary suspension of some routes. Emirates and dnata activated contingency plans to support staff and customers, protect assets and maintain business continuity, and operations at Dubai International (DXB) have been gradually restored, with passenger capacity still below pre‑disruption levels but cargo largely ramped back up. Despite these challenges in the final month, the Group still delivered record profit and revenue for the full year, which management attributes to strong demand in the first 11 months and what Sheikh Ahmed called the “resilience of the business model” and Dubai’s cohesive aviation ecosystem.

What investments did the Emirates Group make in 2025–26, and how is it positioned for 2026–27?

The Group invested AED 17.9 billion (USD 4.9 billion) across new aircraft, facilities, equipment and technology, including 15 Airbus A350 deliveries, a major retrofit programme for existing aircraft, new cargo and catering facilities, and initiatives like Starlink high‑speed Wi‑Fi. Its total workforce grew 8% to 130,919 employees, with over 4,000 UAE nationals, reflecting continued recruitment to support network and capacity expansion. Heading into 2026–27, the Group reports strong cash reserves, fuel hedging in place to 2028–29, and an unchanged business model, and it plans to continue aircraft deliveries, retrofits and infrastructure projects without “knee‑jerk” cost cuts, while monitoring geopolitical risks and demand.

How did dnata perform, and what role does it play in the Group’s results?

dnata reported record profit before tax of AED 1.6 billion (USD 437 million), up 2% year on year, with a PBT margin of 6.8%, and revenue of AED 23.6 billion (USD 6.4 billion), up 12%. Its international businesses generated 77% of revenue, supported by growth in airport operations, catering and retail, and travel services across markets including Australia, Europe, the UAE, the UK and the US. dnata’s cash balance increased to AED 4.7 billion (USD 1.3 billion), and it invested AED 858 million (USD 234 million) in 2025–26 in new facilities, equipment and acquisitions such as Wymap Group, helping underpin the Group’s broader aviation ecosystem and diversified earnings base.

Emirates Group defies regional turbulence with record $6.6 billion annual profit

Written by Mahathir BayenaPublished May. 7 2026

The Emirates Group reported record financial results for the 2025–26 fiscal year, with profit before tax of AED 24.4 billion (USD 6.6 billion), a 7% increase on the prior year.

Revenue rose 3% to AED 150.5 billion (USD 41.0 billion), supported by ongoing strength in global travel demand and continued network expansion.

Emirates Airline reported an individual profit of AED 22.8 billion, while dnata, the Group’s aviation services business, recorded a 12% increase in revenue to AED 23.6 billion, reflecting growth in international operations including Australia and Europe.

The Group’s performance was achieved in a year that included operational disruption in February 2026, when regional military activity led to the temporary suspension of several commercial routes.

Chairman and Chief Executive HH Sheikh Ahmed bin Saeed Al Maktoum attributed the recovery to the “resilience of the business model” and the broader Dubai aviation ecosystem.

During the year, the Group invested AED 17.9 billion in areas including fleet renewal - such as new Airbus A350 aircraft - and technology initiatives including Starlink Wi‑Fi.

It reported a cash balance of AED 59.6 billion, noted that fuel requirements are hedged through 2029, and declared a dividend of AED 3.5 billion to the Investment Corporation of Dubai.