The Emirates Group, a global leader in the aviation and travel services sector, has announced its 2024-25 annual financial results, reporting unprecedented growth across multiple key performance metrics. With record-breaking profits, robust revenue streams, and a substantial cash reserve, the group has solidified its position as the world’s most profitable aviation entity. The group’s subsidiaries, Emirates airline and dnata, both contributed significantly to this stellar performance, meeting the heightened customer demand globally for premium services.
In this article, we take a detailed look at how the Emirates Group achieved these milestones and what it means for the future of the aviation sector, particularly in Dubai’s increasingly vital role as an aviation hub.
Record-Breaking Financial Performance For the fiscal year ending March 31, 2025, the Emirates Group reported outstanding results across multiple financial metrics, setting new benchmarks in profitability and revenue. The financial year saw an exceptional profit before tax of AED 22.7 billion (US$ 6.2 billion), marking an 18% increase over the previous year. This strong performance is a testament to the group’s strategic planning, operational efficiency, and the robustness of Dubai’s aviation ecosystem.
Profit Before Tax and Revenue Growth
The Emirates Group’s impressive financial results were driven by an increase in both profit and revenue. Total revenue for the year reached AED 145.4 billion (US$ 39.6 billion), a 6% increase compared to the previous year. This growth was fueled by a consistent surge in demand for travel and the group’s expansion of services across global markets.
Strong Cash Reserves and EBITDA
The Emirates Group also reported a record level of cash assets, amounting to AED 53.4 billion (US$ 14.6 billion), a 13% increase over the previous year. This enhanced liquidity strengthens the group’s ability to reinvest in its fleet and infrastructure, ensuring continued growth and resilience in an ever-evolving global aviation landscape.
Equally notable is the group’s highest-ever EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of AED 42.2 billion (US$ 11.5 billion), reflecting the group’s operational excellence and strong profitability.
Emirates: The World’s Most Profitable Airline Emirates airline, the flagship carrier of the Emirates Group, has once again achieved a record-breaking financial year, further cementing its status as the most profitable airline globally. The airline reported a profit before tax of AED 21.2 billion (US$ 5.8 billion), up 20% from the previous year, setting a new high in the company’s history.
Impressive Revenue Growth and Strong Cash Assets
Emirates also posted a record revenue of AED 127.9 billion (US$ 34.9 billion), marking a 6% increase from the previous year. This growth reflects the airline’s strong performance in key markets, which has helped it maintain its leadership position in the global aviation sector.
The airline’s cash assets reached AED 49.7 billion (US$ 13.5 billion), an impressive 16% increase over the previous year. This growth in cash reserves will support Emirates’ ongoing fleet expansion and technological upgrades, ensuring that the airline continues to meet customer expectations and deliver exceptional service.
dnata: A Key Contributor to the Group’s Success dnata, the Emirates Group’s travel, ground handling, and cargo services subsidiary, also delivered solid financial performance in 2024-25. dnata’s contributions were crucial in achieving the group’s record-breaking financial results, with the division posting a profit before tax of AED 1.6 billion (US$ 430 million), up 2% from the previous year.
Revenue Growth and Cash Reserves
dnata’s total revenue for the year reached AED 21.1 billion (US$ 5.8 billion), marking a 10% increase over the previous year. The division’s growth was driven by the expansion of its airport services, cargo handling capabilities, and global travel operations.
Cash assets at dnata remained strong, amounting to AED 3.7 billion (US$ 1.0 billion), providing the subsidiary with the financial stability needed to continue expanding its operations and service offerings across the globe.
Investment in Future Growth As part of its ongoing commitment to growth, the Emirates Group invested AED 14.0 billion (US$ 3.8 billion) in new aircraft, facilities, and advanced technologies during the 2024-25 fiscal year. These investments reflect the group’s unwavering focus on expanding its global network, improving its customer offerings, and ensuring long-term sustainability.
Fleet Expansion and Technological Innovation
The Emirates Group’s investments in new aircraft and technology will allow the group to meet the ever-growing demand for air transport services. The delivery of new aircraft, including 16 Airbus A350s and 4 Boeing 777 freighters, is expected to enhance Emirates’ capacity and enable the airline to offer improved products and services across its network.
Additionally, the group’s retrofit program will continue in 2025-26, ensuring that the airline’s fleet remains on the cutting edge of technology and comfort, providing customers with a superior flying experience.
The Impact of UAE Corporate Tax In 2024-25, the Emirates Group faced the first full year of the UAE corporate tax, enacted in 2023, which levies a 9% tax on profits. Despite the new tax charge, the group remained highly profitable, posting a profit after tax of AED 20.5 billion (US$ 5.6 billion). This result underscores the group’s resilience and ability to maintain strong financial performance even in the face of new fiscal challenges.
Dubai’s Strategic Role in Aviation Leadership The success of the Emirates Group is not only a result of the company’s operational excellence but also a reflection of Dubai’s strategic vision and leadership in the aviation sector. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and Group, attributed the group’s achievements to the strong support of Dubai’s leadership and the collaborative efforts of the city’s aviation sector.
Visionary Leadership and Long-Term Strategy
Sheikh Ahmed emphasized that the success of Emirates and dnata was due to the clear mission set out by the government of Dubai 40 years ago. Dubai’s aviation sector has grown into a powerful force on the global stage, supported by visionary leadership, strategic planning, and robust execution. Emirates and dnata have thrived thanks to the strategic focus on providing exceptional products and services while continuing to invest in technology and talent.
“Emirates and dnata have stayed resilient through geopolitical and socio-economic challenges over the years. We’ve always focused on delivering great products and services while investing in the future,” said Sheikh Ahmed.
Expanding Global Presence and Workforce The Emirates Group continues to expand its workforce, with the total number of employees rising by 9% to 121,223 by the end of 2024-25. This growth is in response to the expanding operations of both Emirates and dnata as they continue to meet increasing demand for air travel, ground services, and cargo handling across the world.
A Focus on People and Customer Experience
The group’s focus on talent acquisition and employee development has played a crucial role in maintaining its high standards of service. The investments made in training, technology, and customer experience ensure that Emirates and dnata can continue to meet the needs of their customers, maintaining the trust and loyalty that have been integral to their success.
Outlook for 2025-26: Continuing the Momentum Looking ahead to 2025-26, Sheikh Ahmed expressed optimism about the Emirates Group’s future growth and performance. Despite global uncertainties and market volatility, the group is well-positioned to continue expanding and strengthening its operations.
Strengthening Connectivity and Service Offering
In 2025-26, Emirates is set to expand its network with the delivery of 16 A350s and 4 Boeing 777 freighters. This fleet expansion will provide much-needed capacity and allow the airline to meet growing customer demand for air travel services. The retrofit program for Emirates’ fleet will continue, ensuring that the airline offers the latest in-flight products and consistent experiences for its passengers.
dnata’s Growth and New Facilities
Meanwhile, dnata continues its steady growth, with new facility investments in key markets such as Amsterdam, Dubai, and Erbil. These new facilities will significantly expand dnata’s cargo handling capacity and improve its ability to support global air transport needs.
Dubai’s infrastructure projects, including the ongoing development of Al Maktoum International Airport (DWC) and Dubai South, will play a crucial role in shaping the future of aviation in the region.
By adhering to its core values of excellence, innovation, and customer satisfaction, the Emirates Group is poised to deliver even more value to the global aviation market. With strategic investments, a dedicated workforce, and strong leadership, the group is set to continue its upward trajectory and contribute significantly to the future of the aviation industry.
