The Emirates Group has published its 2024-25 Annual Report, showing unprecedented achievements in profit, revenue, EBITDA, and cash reserves.
This exceptional performance cements the Group’s position as the world’s most profitable aviation group for the reporting period.
Beyond that, with Emirates reporting the best result in its history, it has become the world’s most profitable airline.
Emirates 2024-25 Performance
Financial Performance
For the financial year ending March 31, 2025, the Emirates Group reported a record-breaking profit. It has disclosed a profit before tax of AED 22.7 billion (US$ 6.2 billion). This represents an 18% increase from the previous year.
Group revenue also hit an all-time high of AED 145.4 billion (US$ 39.6 billion), up 6% from 2023-24. These figures reflect the Group’s ability to capitalize on strong global demand for its premium products and services.
Emirates airline, the Group’s flagship, delivered its best-ever performance. It posted a profit before tax of AED 21.2 billion (US$ 5.8 billion), a 20% rise year-over-year.
The airline’s revenue climbed 6% to AED 127.9 billion (US$ 34.9 billion). After tax, Emirates achieved a record profit of AED 19.1 billion (US$ 5.2 billion).
This surpassed last year’s AED 17.2 billion (US$ 4.7 billion) with an impressive profit margin of 14.9%. This marks the airline’s strongest financial result in its history and the best in the global airline industry for 2024-25.
Fleet and Network
Emirates expanded its operations to meet robust customer demand, increasing passenger and cargo capacity by 4% to 60.0 billion Available Tonne Kilometres (ATKMs), nearing pre-pandemic levels.
The airline launched services to Bogotá and Madagascar, resumed flights to Phnom Penh, Lagos, Adelaide, and Edinburgh, and boosted frequencies to 21 other destinations.
The introduction of the Airbus A350 to Emirates’ fleet added capacity and introduced customers to the airline’s acclaimed Premium Economy Class and next-generation inflight entertainment system.
Despite delays in new aircraft deliveries, Emirates committed to a US$ 5.0 billion retrofit program, expanding it to include 219 aircraft for a full cabin refresh.
As of March 31, the airline’s order book stood at 314 aircraft, including 61 A350s, 205 Boeing 777Xs, 35 787s, and 13 777Fs. The fleet totaled 260 aircraft with an average age of 10.7 years.
Passenger and Cargo Performance
Emirates carried 53.7 million passengers in 2024-25, a 3% increase, with seat capacity up 4%. The Passenger Seat Factor dipped slightly to 78.9% from 79.9%, while passenger yield held steady at 36.6 fils (10.0 US cents) per Revenue Passenger Kilometre (RPKM).
Emirates SkyCargo also excelled, transporting 2.3 million tonnes of cargo globally, a 7% increase from the prior year. The addition of two Boeing 777 freighters and two wet-leased 747 freighters bolstered capacity to meet surging demand.
The cargo division generated AED 16.1 billion (US$ 4.4 billion) in revenue, accounting for 13% of Emirates’ total revenue. Cargo yield per Freight Tonne Kilometre (FTKM) rose 10%, returning to pre-pandemic levels.
Strategic Investments and Leadership
The Emirates Group invested AED 14.0 billion (US$ 3.8 billion) in new aircraft, facilities, equipment, and cutting-edge technologies to fuel its growth.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and Group, attributed this success to Dubai’s visionary leadership and strategic planning.
“Dubai’s aviation sector has become a global powerhouse, thanks to coordinated execution, strong partnerships, and the support of our customers and the people of Dubai,” he said.
Outlook for 2025-26
Looking ahead, Sheikh Ahmed expressed enthusiasm for the upcoming year. Emirates plans to enhance its network with the delivery of 16 A350s and four Boeing 777 freighters in 2025-26, adding vital capacity.
The retrofit program will continue, ensuring a consistent, high-quality experience across the A380, 777, and A350 fleets.
The Emirates Group’s 2024-25 performance underscores its ability to navigate global challenges while delivering exceptional value to customers.
With a robust network, innovative products, and a commitment to growth, Emirates and dnata are poised to maintain their leadership in the aviation industry, setting new benchmarks for success.
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