Long-distance airline Emirates reported a record profit of $5.2 billion as employees received 22 weeks of payment as bonus
Dubai, United Arab Emirates (AP) – The UAE reported on Thursday that it had an annual profit of $5.2 billion, with state-owned companies declaring themselves the most profitable airline in the world as global aviation fully resumed flights after disruptions caused by the coronavirus pandemic.
The profit is because Dubai’s airlines provide 53.7 million passengers from its Dubai International Airport hub, up from 51.9 million passengers by the fiscal year. After-tax profits during the same period were US$4.7 billion.
The total Emirates Group owned by Dubai Sovereign Wealth Fund (Dubai Investment Company) has an annual profit of US$5.6 billion, compared with US$5.1 billion the previous year.
“Our excellent financial position allows us to continue to build and expand from a successful business model,” said Sheikh Ahmed Bin Saeed Al Maktom, Chairman and CEO of the UAE.
“While some markets are upset about trade and travel restrictions, volatility is nothing new in our industry,” he said. “We just adapt to these challenges and navigate.”
Around 121,000 workers in the Group of Emirates received their annual salary of 22 weeks. In 2024, They received a 20-week bonus.
The UAE’s fiscal year is from April 1 to March 31, including revenues for 2024 and 2025. The past fiscal year marks the first time the company has placed a new corporate tax of 9% in the United Arab Emirates.
The airline has revenue of $34.9 billion, compared with $33 billion in the previous year. These revenues lag behind other private operators, such as Atlanta-based Delta Air Lines Inc., which led the industry with $61.6 billion in revenue last year.
But Emirates’ $5.2 billion profit puts it in front of the packaging. Emirates operates with Dubai International Airport’s handicrafts, which fly from an illegal state hub. The decline in crude oil prices also helps its profits, just like other airlines.
The airline said its 260 planes flew to 148 locations around the world. It has long relied on the Boeing 777 and the double-decker Airbus A380, although it has also begun introducing the Airbus A350 into its plans. It is carrying out a multi-billion dollar transformation campaign for its aircraft and says it does not expect it to be the first Boeing 777-9 until 2027.
Emirates acts as a key link in East-West travel, and is what experts and diplomats call crown jewels “Dubai Company” – A series of interconnected companies supervised by the Al Maktoum family ruled by Sheikhdom. The Emirates Group accounts for 15% of Dubai’s total GDP in 2023, which includes coffee shops, restaurants, alcohol sales and other industries.
Dubai ruler Sheikh Mohammed Binshid Al Maktoum wrote on social platform x: “The UAE is not only a transportation company; it is a tool for the UAE’s economic transformation, a strategic bridge connecting the world continent and a development carrier.
Emirates results with base Dubai International Airport results track. The busiest international traveler airport in the world A record 92.3 million passengers Passed through its terminal in 2024.
Now the airport is planning to move to the second airport in the city-state that is spread across its southern desert, over the next decade A project worth nearly $35 billion.
Real estate boom The city’s highest number of tourists ever made Dubai a destination and a stopover. But, the city is With increased transportation and cost increaseimposes force its UAE citizens and foreign residents to power the economy.
As the seven legacy traditions that make up the UAE, the dictatorial chief, Dubai provides the UAE with $4 billion in relief At the height of the pandemic. Emirates said in a report on Thursday that it had repaid $3.6 billion of the loan.
