Monday, May 27, 2024
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Emirates Announces a Dhs18.7 Billion Annual Profit and Plans to Award Bonuses equal to 20 Weeks of Salary.

With the release of its 2023–24 Annual Report, the Emirates Group set new records for revenue, profit, and cash balance. In 2023–2024, Emirates and Dnata both experienced notable gains in profit and revenue as the Group extended its global operations to satisfy robust customer demand for its superior goods and services.

The Emirates Group reported a record profit of Dhs18.7 billion ($ 5.1 billion) for the fiscal year that concluded on March 31, 2024. This represents a 71% increase over the previous year’s profit of Dhs10.9 billion ($ 3.0 billion). The Group’s revenue increased by 15% from the last year to Dhs137.3 billion ($ 37.4 billion).

The Group’s cash balance increased 11% from the previous year to Dhs47.1 billion ($ 12.8 billion), the highest amount ever disclosed. With combined group profits of Dhs29.6 billion over the past two years, they have surpassed pandemic losses of Dhs25.9 billion in 2020–2022.

The chairman and CEO of Emirates Airlines and Group, Sheikh Ahmed Bin Saeed Al Maktoum, declared, “The Emirates Group has raised the bar to deliver a new record performance.” The demand for air travel and related services increased throughout the year, and we delivered exceptional outcomes by acting swiftly to meet customer demands. We are enjoying the results of years of constant investment in our services and goods, solid partnerships, and the skills of our skilled workforce.

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