The Emirates Group has achieved its strongest-ever half-year financial results, with a profit before tax reaching US$ 2.8 billion in the first half of 2024-25.
This exceptional performance has surpassed last year’s record-breaking figures. It becomes a further demonstration of the Group’s strong business strategy and operational expertise in a dynamic global market.
H1 24-24 Financial Milestone
After tax, the Group recorded a profit of AED 9.3 billion (USD 2.5 billion), marking a significant milestone in its financial history.
The Group maintained strong operational efficiency with an EBITDA of AED 20.4 billion (US$ 5.6 billion). This showed only a slight decrease from last year’s AED 20.6 billion, indicating consistent performance despite market fluctuations.
Emirates’ Chairman and Chief Executive, His Highness Sheikh Ahmed bin Saeed Al Maktoum, highlighted how these results showcase the strength of their business model. He also pointed to Dubai’s growing appeal as a global hub for business, tourism, and connectivity.
“This outstanding performance enables us to invest heavily in our future success,” he explained. “We’re committing billions to new customer offerings, advanced technologies, and employee development to ensure we maintain our position as a leader in global aviation.”
Continued Strong Demand Expected
Looking ahead, Sheikh Ahmed expressed optimism about continued strong customer demand through 2024-25.
He emphasized their focus on expanding capacity with new aircraft and facilities, while maintaining flexibility in resource deployment to adapt to changing market conditions and customer needs.
The Group’s workforce expanded by 3% to 114,610 employees by September 30, 2024. Both Emirates and dnata are actively recruiting to support growth plans and enhance service quality across all operations.
Network Expansion and Service Enhancements
During this period, Emirates significantly strengthened its global presence through strategic network expansion. The airline increased flight frequencies to eight key destinations, responding to growing travel demand and market opportunities.
New routes were launched to Phnom Penh, Bogotá, and Madagascar, extending the airline’s reach to previously underserved markets.
This expansion brought their network to an impressive 148 airports across 80 countries, reinforcing Emirates’ position as a global connector. The airline also established strategic partnerships with seven new codeshare and interline partners, enhancing connectivity options and travel flexibility for passengers worldwide.
Fleet Modernization and Customer Experience
The airline’s ambitious US$ 4 billion retrofit program delivered impressive results, with eight aircraft receiving complete interior upgrades to meet evolving customer expectations.
The new Premium Economy class has been successfully introduced on more routes, receiving positive feedback from passengers seeking enhanced comfort at competitive prices.
Business Class now features an enhanced 1-2-1 layout with personal minibars, setting new standards for premium travel.
The airline plans to expand its retrofitted aircraft service to ten additional routes in the coming months, ensuring more passengers can experience these upgraded products.
Operational Performance
Passenger Operations
The airline demonstrated robust operational growth across key performance metrics. Overall capacity increased 5% to 29.9 billion ATKMs. Meanwhile, passenger capacity rose 4% in ASKMs, reflecting optimized resource allocation.
Emirates transported 26.9 million passengers during this period, representing a 3% increase year-over-year. Overall, it maintained a strong average seat factor of 80.0%, demonstrating efficient capacity management.
Cargo Operations
Emirates SkyCargo showed exceptional performance in the cargo sector, adapting to evolving market demands.
Cargo volume increased significantly by 16% to 1,198,000 tonnes, while yields improved by 11%, driven by strong Chinese eCommerce traffic and increased shipments to Dubai.
The cargo fleet expanded with the addition of a new Boeing 777 freighter and two wet-leased Boeing 747Fs, enhancing operational capabilities.
To support future growth and meet increasing cargo demand, the airline strategically placed orders for ten additional Boeing 777 freighters, positioning itself for continued expansion in the air freight market.
Summary
Sheikh Ahmed neatly captures the prevailing attitude, moving forward. “The outlook is positive, but we don’t intend to rest on our laurels. We will stay agile in deploying our capacity and resources in a dynamic marketplace.”
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