Emirates airline announces $2.6 billion profits for first half of 2023-24

Emirates airline's profit for the first half of 2023-24 hit a new record of $2.6 billion, compared to the same period last year's profit of $1.1 billion, a rise by 134%. Emirates revenue, including other operating income, of $16.2 billion was up 19% compared with $13.7 billion recorded in the same period last year. 

The airline's record performance is attributable to the strong passenger demand for international travel across markets and Emirates' ability to activate capacity to match demand; and offer customers great value and services.

During the first half of 2023-24, Emirates airline carried 26.1 million passengers, up 31% from the same period last year. Emirates Skycargo uplifted 1,035,000 tonnes in the first six months of the year, an 11% increase compared to the same period last year. Emirates airline was operating passenger and cargo services to 144 airports. 

The Emirates Group comprising Emirates airline, Dnata and other subsidiaries on Thursday, November 9 announced its financial result for the first half of 2022-23 ended on September 30, 2023. 

The Group itself reported half-year net profit $2.7 billion, surpassing its record half-year profit of $1.2 billion last year by 138%. Group revenue was $18.3 billion for the first six months of 2023-24, up 20% from $15.3 billion last year. 

Other subsidiary Dnata continued to ramp up operations across its cargo and ground handling, catering and retail, and travel services businesses. Dnata's revenue, including other operating income, of $2.5 billion increased by 27% compared to $2 billion  generated in the same period last year. Overall profit for Dnata was $193 million compared to same period last year's $64 million.

The Emirates Group's employee base, compared to 31 March 2023, grew 6% to an overall count of 108,996 on 30 September 2023. Both Emirates and Dnata have ongoing recruitment drives to support their future requirements.