The Emirates Group has announced a remarkable financial performance for the first half of the fiscal year 2024-25, achieving pre-tax profits of .8 billion. This impressive figure marks the highest half-year performance in the company’s history. This milestone is particularly noteworthy as it is the first financial year under the UAE’s corporate income tax law, introduced in 2023. After accounting for a nine percent tax, the group’s net profit stands at AED 9.3 billion, translating to approximately .5 billion.
Despite a slight decrease compared to last year’s AED 20.6 billion profit, the group maintained a strong operational profitability with an EBITDA of AED 20.4 billion (.6 billion). Total revenue climbed to AED 70.8 billion (.3 billion), reflecting a five percent increase over the same period last year. This growth in revenue is driven largely by consistent customer demand across various business divisions and regions, showcasing the resilience and strength of the Emirates brand in the global aviation market.
As of September 30, 2024, Emirates reported a robust cash flow, with AED 43.7 billion (.9 billion) available for operations, even though this is a slight decline from the previous figure of AED 47.1 billion. The airline strategically utilized its substantial cash reserves to enhance operations, including new aircraft purchases and debt repayments. Additionally, AED 2 billion in dividends was distributed to its owner, reinforcing the financial health of the organization.
Emirates is not only focusing on its financials but also on expanding its global footprint. The airline has increased its scheduled flights to eight new destinations, including cities like Amsterdam, Cebu, and Singapore. Notably, it has resumed daily flights to Phnom Penh, Cambodia, and launched a new daily service to Bogotá, Colombia. A recent addition to its network is a new route to Madagascar via the Seychelles, bringing the total number of airports served to 148 across 80 countries.
To further enhance customer experience and connectivity to more destinations, Emirates has entered into seven new partnerships with various airlines, including Air Peace and Avianca, in just the first half of 2024-25. This not only facilitates greater travel options for passengers but also underscores Emirates’ commitment to excellence in service.
Moreover, Emirates has continued to invest in its fleet, with upgrades to eight aircraft, including three A380s, as part of its ambitious billion retrofit program. These enhancements include new cabin offerings, such as a refreshed 1-2-1 Business Class layout featuring lie-flat seats and personal minibars, alongside the highly sought-after Premium Economy options.
With these significant strides, the Emirates Group demonstrates its determination to lead the aviation industry while maintaining a focus on customer satisfaction and operational excellence. This positive performance reinforces the airline’s position as a key player in global travel and tourism.
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