(MENAFN- khaleej times) dubai's emirates group will increase salaries and allowances of the employees from next month after it reported record profit for the 2022-23 financial year last month.

for employees working in the emirate, the dubai-headquartered group will award a five per cent hike in basic salary and increase accommodation and transport allowances. according to an email sent to its employees, starting september 2023, the company will offer a 10 per cent increase in education support allowance.

the group also announced a 24-week bonus to employees soon after it announced its 2022-23 results in may.

employing 102,379 workers at the end of the 2022-23 financial year, the group's major subsidiaries are emirates airline and dnata, which provides ground handling, cargo, travel and flight catering services. the company added over 85,219 employees in the last financial year.

for the financial year ending on march 31, 2023, the emirates group posted a record profit of dh10.9 billion compared to a dh3.8 billion loss in the previous year. the group's revenue reached dh119.8 billion, an increase of 81 per cent over last year's results. while its cash balance was dh42.5 billion, the highest ever.

the email to employees also mentioned an increase in the uae national retention allowance for uae nationals.

however, employees working abroad will receive increases to basic salary aligned with the local cost of living.

the group employees' salaries are increased "as a direct response to the rise in the cost of living and inflation" globally.

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