Emirates posts record profit of $4.7 billion

Emirates, based in Dubai, earned a record profit in its 2023- 24 fiscal year.  The UAE airline had revenues of $33 billion versus $29.3 billion in the prior yer, and record profits of $4.7 billion, up from $2.9 billion in the prior year.  The carrier flew 51.9 million passengers in the fiscal year, versus 43.6 million in the prior year, as the airline industry has finally recovered from the global pandemic.

Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and CEO of Emirates, said “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel

related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.”

“Huge credit is also due to the UAE’s visionary leaders, especially HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group is able to flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”