Emirates Group has announced remarkable financial results for the first half of the fiscal year 2025-2026, covering the period from April 1 to September 30, 2025. The group reported a pre-tax profit of 12.2 billion AED (3.3 billion USD) for the first six months, marking the fourth consecutive year of record half-year profits.
After accounting for income tax, the group’s net profit stood at 10.6 billion AED (2.9 billion USD).
The group recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of 21.1 billion AED (5.7 billion USD), representing a 3% increase from the previous year’s figure of 20.4 billion AED (5.6 billion USD). This surge showcases robust operational profitability.
During the initial six months of the fiscal year 2025-2026, the group generated revenues of 75.4 billion AED (20.6 billion USD), reflecting a 4% growth compared to 70.8 billion AED (19.3 billion USD) in the same period last year.
By the end of the first half of the fiscal year 2025-2026, the group reached a record cash balance of 56.0 billion AED (15.2 billion USD) as of September 30, 2025, an increase from 53.4 billion AED (14.6 billion USD) on March 31, 2025. The group leveraged its strong cash reserves to meet business needs, including payments for new aircraft orders and settling other debts.
Additionally, the group paid 2 billion AED (545 million USD) of the remaining owner’s share, which totaled 6 billion AED (1.6 billion USD), as announced at the end of the fiscal year 2024-2025.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and the Group, stated: “Emirates Group continues to demonstrate consistent and confident performance, achieving record half-year financial results for the fiscal year 2025-2026, reaffirming the strength of its business model and ability to sustain growth year after year. The first half results once again highlight Emirates Airline’s global leadership and establish its position as the most profitable airline in the world, thanks to its operational efficiencies, strong brand, and increasing customer trust.”
He further added, “This exceptional performance is attributed to the strong and ongoing demand for travel and the growing customer confidence in our services and products, positively impacting revenue and profitability growth.”
He continued: “Emirates and dnata invested billions of dirhams to enhance operational efficiency, expand their capabilities through innovation and technology, and ensure the welfare of our employees, who are the cornerstone of our success and sustainable performance. These commitments form the essence of our corporate culture, enabling us to maintain our competitive edge in a rapidly changing market.”
He added: “This robust performance gives us the necessary momentum to continue investing in the future with confidence and to expand our operations in line with Dubai’s aspirations to cement its position as a leading global city for business, tourism, and innovation.”
Sheikh Ahmed concluded: “Despite geopolitical events and economic challenges in certain markets, the global demand for air transport and travel services remains strong. We expect this demand to continue throughout the remainder of the 2025-2026 year, and we look forward to further enhancing our revenue growth capacity, especially with the addition of new A350 aircraft to Emirates’ fleet and the operation of new dnata facilities.”
To support the expansion of operations and business activities, the Emirates Group’s workforce grew by 3% compared to March 31, 2025, reaching a total of 124,927 employees by September 30, 2025. Emirates and dnata continue to conduct hiring campaigns to meet future requirements.
Emirates Airline
Emirates Airline has been continuously enhancing its destination network and connectivity options through its hub in Dubai. During the first half of the fiscal year 2025-2026, the airline launched new services to Da Nang in Vietnam, Siem Reap in Cambodia, and Shenzhen and Hangzhou in China. As of September 30, 2025, Emirates’ passenger and cargo network extended to 153 airports across 81 countries and regions, with the addition of 28 weekly flights to Antananarivo, Johannesburg, Muscat, Rome, Riyadh, and Taipei.
To offer more connectivity options for customers, Emirates established code-share and interline agreements with Seychelles Airlines, Condor, and Aurigni during the first six months of 2025-2026.
Between April 1 and September 30, Emirates received five new Airbus A350 aircraft, increasing the number of business and premium economy seats in its fleet. During the same period, 23 aircraft (6 Airbus A380s and 17 Boeing 777s) underwent full refurbishment as part of its 5 billion USD aircraft upgrade program, allowing the airline to offer its latest cabin products to a broader market, including premium economy. By September 30, premium economy was available to customers traveling between Dubai and 61 cities worldwide.
The airline also opened a new First Class check-in lounge at Dubai International Airport, providing First Class customers and Platinum members of Emirates Skywards with an exclusive, luxurious area and exceptional experience. In the first half of the fiscal year 2025-2026, Emirates accelerated the pace of implementing its retail strategy by opening travel retail locations in Accra, Bangkok, Geneva, Jakarta, Mauritius, Osaka, Seoul, and Singapore.
Emirates has continued to advance its environmental initiatives by increasing the use of sustainable aviation fuel (SAF) wherever possible, at 37 airports. In April, Emirates joined the Circular Aviation Economy Coalition, a network of organizations committed to building a circular economy in aviation and creating new pathways to accelerate carbon reduction through a high-value circular economy in the global supply chain.
During the first half of the fiscal year 2025-2026, Emirates made significant investments to enhance its global brand presence, signing multi-year sponsorship deals to become a platinum partner of the German football club Bayern Munich, the official sponsor of the Real Madrid basketball team, and the exclusive partner and official carrier for the Investec and Challenge Cup of the Professional Rugby Clubs Union, while also extending its partnership with the ATP Tour as the premier partner and official carrier of the tour until 2030, along with sponsoring the Olympique Lyon jersey until 2030.
Total capacity increased by 5% during the first six months of the fiscal year, reaching 31.3 billion available tonne-kilometers, attributed to expanded flight operations. Passenger capacity, measured by available seats multiplied by kilometers flown, rose by 5%, while revenue passenger kilometers (RPK) increased by 4% with an average seat load factor of 79.5%, compared to 80.0% during the same period last year. Emirates transported 27.8 million passengers between April 1 and September 30, 2025, marking a 4% growth from the same period last year.
Emirates SkyCargo handled 1.25 million tonnes during the first half of the fiscal year, reflecting a 4% increase compared to the same period last year. The demand for specialized cargo products and its exceptional network of operations utilizing both passenger and cargo aircraft continued to grow. However, the average yield for air cargo fell by 6% due to reduced demand in certain market segments amid tariff-related concerns.
Emirates SkyCargo received three Boeing 777 freighters. In April, the airline launched “Emirates Quick Service”, an innovative product leveraging the strength of the airline’s global network to provide expedited door-to-door shipping services specifically aimed at businesses.
Emirates achieved record profits before tax for the first half of 2025-2026 amounting to 11.4 billion AED (3.1 billion USD), compared to 9.7 billion AED (2.6 billion USD) for the same period last year. Post-tax, Emirates’ profits reached 9.9 billion AED (2.7 billion USD).
Emirates’ revenue, including other operational income, totaled 65.6 billion AED (17.9 billion USD), a 6% increase compared to 62.2 billion AED (16.9 billion USD) last year. This record revenue growth is attributed to strong ongoing demand for travel across various markets and customers’ preference for Emirates’ products and services, particularly in premium cabins.
Operational costs for Emirates (including fuel) rose by 4% in line with the expanded operations, with fuel representing the largest component of the airline’s operational cost at 30%.
Thanks to customer demand and operational expansion during the first six months, earnings before interest, taxes, depreciation, and amortization remained robust at 19.7 billion AED (5.4 billion USD), representing a 3% increase from 19.1 billion AED (5.2 billion USD) for the same period last year.
Emirates Flight Catering experienced a 13% revenue increase from external customers, reaching 555 million AED (151 million USD), providing 7.7 million meals (a 2% increase) for 116 airlines during this period.
Additionally, Emirates Leisure and Retail acquired the remaining 25% stake in Air Ventures LLC in the U.S., securing full ownership of the entity managing retail and dining outlets in airports.
dnata
dnata reported strong growth during the first half of the fiscal year 2025-2026, driven by enhancements in its operations across cargo, ground handling, catering, retail, and travel services.
In this period, dnata won several significant new contracts in catering and airport services and expanded its existing client base through its international operations. This validates dnata’s ability to meet diverse airline customer requirements with high safety standards and quality products and services.
dnata also continued its strategic investments in its business in response to customer needs and to capitalize on market opportunities. The company announced plans to deploy 800 new Ground Support Equipment units across its global network in 2025, with an investment of 110 million USD to enhance operational performance and provide lower carbon-emitting equipment to support dnata’s growth and sustainability goals.
Key achievements for dnata during the first half of the fiscal year included the launch of its “Marhaba” hospitality brand at airports in the UK; a €3 million minority investment in the advanced booking platform WonderMiles to enhance dnata’s travel offerings in the corporate sector; and the divestment of its 75% stake in Super Bus, which operated sightseeing tours in the UAE.
dnata also entered into its first major sports sponsorship partnership by signing a three-year agreement with the Dubai Basketball Club to become the founding partner of the UAE’s first professional basketball team based in Dubai.
dnata achieved a record revenue performance during the first half of the fiscal year, surpassing 3 billion USD for the first time during this period. Revenue, including income from other operations, rose by 13% to 11.7 billion AED (3.2 billion USD) from 10.4 billion AED (2.8 billion USD) in the previous year’s comparable period.
dnata’s profits before tax reached 843 million AED (230 million USD), an increase of 17% compared to the previous year’s results for the same period, while post-tax profits amounted to 697 million AED (190 million USD).
dnata demonstrated strong operational profitability, with earnings before interest, taxes, depreciation, and amortization amounting to 1.4 billion AED (372 million USD), a growth of 5% compared to 1.3 billion AED (354 million USD) in the first six months of the previous fiscal year.
dnata’s airport operations continued to be the largest contributor to its revenue, totaling 5.5 billion AED (1.5 billion USD), reflecting a 15% increase over the previous year’s revenue for the same period, driven by continued demand growth from customers, particularly in Italy, Australia, the UK, and the UAE. The number of aircraft cycles serviced by dnata across all its locations grew by 15% to 450,903 operational cycles, bolstered by the launch of services at Rome Airport. In terms of volume, dnata handled 1.59 million tonnes, a 3% increase over the same period last year, thanks to strong demand for cargo services and its operations in the UAE.
Revenue from dnata’s catering and retail operations reached 4.1 billion AED (1.1 billion USD), showing an 11% increase supported by production increases in both Australia and the UK to meet customer demand, along with growth in its retail offerings as part of its strategy, aided by a positive impact from contract adjustments to cover rising supply costs. The total number of meals served decreased slightly by 1% to 60.0 million meals compared to the same period last fiscal year.
dnata’s travel division contributed 2.0 billion AED (538 million USD) to revenue, an 11% growth from 1.8 billion AED (483 million USD) in the same fiscal year period, with core transaction sales (TTV) amounting to 5.0 billion AED (1.4 billion USD), a 9% increase compared to 4.5 billion AED (1.2 billion USD) in the previous year period.