A Review of Emirates’ Financial Performance

Emirates’ financial performance resulted in a 20.464 billion Dirhams profit after tax for its group of airlines (the Emirates Group) at the end of its most recent financial year (1 British Pound = 4.7478 Dirhams) The performance of the Dubai based airline is  9.7% higher than the 18.655 billion Dirhams profit made in the previous year. This is good news for Emirates.

In addition, revenue also increased from 137.339 billion Dirhams in the previous financial year to 145.43 billion Dirhams at end of the 2024-25 financial year. In terms of revenue therefore, Emirates end of year performance resulted in a 5.9% improvement. This shows that Emirates has become more popular with customers in the past year. The fact that profit has improved even more than revenue also indicates an improvement in cost control.

A Look into The History

Emirates has contributed significantly to the economy of Dubai. Sheikh Mohammed bin Rashid Al Maktoum, the Emir of Dubai, talks about how Dubai has become a global destination for investment and has remained true to the vision of its founding fathers who wanted it to be bold in ambition, open to the world, agile in the face of change and ready for the future. He also talks about how the city has a model of close cooperation between the public and private sectors, out of which Emirates has emerged as what he describes as a remarkable success story.

According to Chairman and Chief Executive of the Emirates Group Sheikh Ahmed bin Saeed Al Maktoum, when Emirates was set up 40 years ago, the Emir gave them a clear mission to be the best at what they do and to deliver value to Dubai and its stakeholders. With this in mind, Emirates had a laser focus on providing great products and services continually investing in technology and talent to increase their competitive edge. Sheikh Ahmed also says that the company did not take shortcuts and did not put the company’s future in jeopardy in return for short term gains.

The Present

The Emir states that Emirates has expanded Dubai’s global presence and unlocked economic opportunities. He says that Emirates contribution goes beyond aviation driving trade, creating jobs, boosting tourism and strengthening global links that fuel prosperity. According to studies, he says that in 2023 the Emirates contribution was 75 billion Dirhams to Dubai’s economy representing 15% of the city’s GDP.  In addition, he says the airline has also supported over 236,000 jobs.

Sheikh Ahmed has reported that Emirates Group is the most profitable aviation group in the world in the industry for this year. He also adds that the success of the airline is a result of the visionary leaders, strategic planning and strong support from their partners and all the people ofrowth Dubai. The Emir also praises him saying that under his leadership the company has become a global benchmark of excellence. He also states that the Emirates will remain a cornerstone of Dubai’s economic growth. There are also plans to expand Dubai’s Al Maktoum International Airport to become the world’s largest airport by the 2030s.

As one can see, the Emirates Group has succeeded in improving its profits this year and has no doubt improved its contribution to the economy of Dubai. As the Emir has discussed there are also ambitious plans for the future of the city of which the Emirates Group remains a key part. We have to wait to see how this progresses.

So all in all, a positive story for Emirates and Dubai. What are your views on Emirates’ financial performance?