The Emirates Group has delivered its strongest financial performance ever for the year ended 31 March 2025, cementing its place as the most profitable aviation group globally. According to its newly released 2024-25 Annual Report, the Group achieved a record pre-tax profit of AED 22.7 billion (US$ 6.2 billion), an 18% year-on-year increase, while total revenue climbed 6% to a record AED 145.4 billion (US$ 39.6 billion).
This historic performance was powered by robust demand across global markets, strategic expansion, and continued investment in premium products, talent, and technology. Emirates airline led the Group’s performance with the best results in its 40-year history—recording a profit before tax of AED 21.2 billion (US$ 5.8 billion), up 20% from the previous year, and revenue of AED 127.9 billion (US$ 34.9 billion), up 6%. Emirates also achieved its highest-ever cash balance of AED 49.7 billion (US$ 13.5 billion), a 16% increase year-over-year.
dnata, the Group’s ground handling, cargo, catering, and travel services provider, also posted record results, contributing AED 1.6 billion (US$ 430 million) in profit before tax—up 2%—and AED 21.1 billion (US$ 5.8 billion) in revenue, a 10% increase. dnata’s cash reserves closed at AED 3.7 billion (US$ 1 billion), reflecting the Group’s strong liquidity and financial resilience.
Overall, the Emirates Group’s cash assets rose to an unprecedented AED 53.4 billion (US$ 14.6 billion), up 13% from the prior year, while EBITDA climbed 6% to AED 42.2 billion (US$ 11.5 billion), highlighting efficient operations and robust profitability. For the first time, the Group’s performance was subject to the UAE’s newly implemented corporate tax regime, resulting in a 9% tax charge. After taxes, net profit stood at AED 20.5 billion (US$ 5.6 billion).
To reward stakeholders, the Group declared a dividend of AED 6.0 billion (US$ 1.6 billion) to its sole shareholder, the Investment Corporation of Dubai.
Commenting on the milestone year, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and Group, credited the record-breaking results to Dubai’s visionary leadership, the Group’s clear mission since inception, and consistent delivery on customer value. “Dubai has nurtured a globally influential aviation sector through long-term planning, strategic investments, and relentless pursuit of excellence,” he said. “Since day one, our goal has been to be the best at what we do and deliver value to Dubai, our stakeholders, and the communities we serve. We’ve remained true to these values—investing in people, in technology, and in product quality, without compromising for short-term gains.”
In 2024-25, the Group invested AED 14.0 billion (US$ 3.8 billion) into future growth initiatives, including new aircraft, infrastructure, equipment, technology platforms, and strategic business acquisitions. Emirates and dnata also grew their global workforce by 9%, bringing their total headcount to 121,223—the largest in the Group’s history.
Looking ahead to 2025-26, Sheikh Ahmed expressed optimism, citing a continued focus on scaling the Group’s competitive advantages. Emirates is set to enhance network connectivity with the delivery of 16 Airbus A350s and 4 Boeing 777 freighters, significantly boosting capacity to meet customer demand. The airline’s retrofit programme will also continue to bring enhanced comfort and consistency across the A380, 777, and incoming A350 fleets.
dnata’s growth trajectory remains strong, with major investments materialising in the opening of new cargo facilities in Amsterdam, Dubai, and Erbil, expected to significantly improve capacity and operational efficiency. Meanwhile, foundational work is progressing at Al Maktoum International Airport (DWC) and the broader Dubai South development. The Group is collaborating with Dubai Airports and other stakeholders to design an aviation ecosystem that will serve as the future benchmark for air travel.
While acknowledging global uncertainties around trade and travel restrictions, Sheikh Ahmed noted that volatility is a constant in aviation. “What sets us apart is our ability to adapt and navigate challenges. With our solid financial footing, talented workforce, and Dubai’s winning formula, we are positioned to shape the future of aviation and deliver even greater value to the people, cities, and communities we serve.”
