The Emirates Group has reported its most successful financial year to date, despite significant regional geopolitical challenges, posting a record revenue of AED 150.5bn ($41.0bn) for the 2025–26 fiscal year.
The figure represents a three per cent increase over the previous year, strengthening the Dubai-based aviation group’s position in global aviation, driven by network expansion and rising international travel demand. Profit before tax rose to AED 24.4bn ($6.6bn), a seven per cent increase from the previous reporting period.
“These outstanding results, despite significant challenges in the last month of our financial year, reaffirm the strength and resilience of the Emirates Group’s business model,” said the Chairman and Chief Executive of Emirates airline and Group, His Highness Sheikh Ahmed bin Saeed Al Maktoum, in a statement sent to The PUNCH.
A shift in the UAE’s fiscal framework saw the corporate tax rate for the Group increase from nine per cent to 15 per cent following the adoption of global Pillar Two tax rules. Despite this, profit after tax remained strong at AED 21.0bn ($5.7bn).
The Group said the performance was achieved despite a difficult final month of the financial year. On February 28, 2026, military activity in the Gulf region disrupted global commercial air traffic. However, it credited Dubai’s aviation ecosystem and its operational flexibility for sustaining continuity and protecting assets.
“The Emirates Group has navigated crises and disruptions before. Each time, we placed our focus on our customers and our people, and each time, we have bounced back stronger,” Sheikh Ahmed noted, adding that operations at Dubai International gradually recovered even as passenger capacity was reduced during the disruption period.
The airline division carried 53.2 million passengers during the year and expanded its network to 152 cities, launching four new destinations: Da Nang, Hangzhou, Siem Reap, and Shenzhen.
To support growth, Emirates added 15 Airbus A350 aircraft to its fleet and continued its $5.0bn retrofit programme, which has now seen 91 aircraft undergo full cabin refurbishment.
Beyond passenger operations, dnata, the Group’s airport services and travel arm, reported record revenue of AED 23.6bn. Emirates SkyCargo transported 2.4 million tonnes of goods, contributing 12 per cent of airline revenue.
“Our fundamentals are strong. The Emirates Group’s proven business model is unchanged. Dubai’s place at the nexus of global commerce, trade, and travel flows is unchanged,” Sheikh Ahmed said, reaffirming the Group’s long-term strategy.
The Group invested AED 17.9bn ($4.9bn) in aircraft, facilities, and technology, including plans for a multi-billion dirham “Cabin Crew Village” to accommodate its growing workforce. Staff strength rose by eight per cent to more than 130,000 employees.
Looking ahead to 2026–27, the Group enters the year with a record cash balance of AED 59.6bn, providing buffer capacity against market volatility and supporting continued investment without abrupt cost-cutting measures.
While noting that regional hostilities are currently paused under a ceasefire agreement, Sheikh Ahmed said the Group remains prepared for potential near-term challenges.
“We are not sitting on our hands… our business streams, scale, portfolio mix, and years of investments give us the resilience and agility to address any near-term challenges,” he concluded.
