Emirates Airline reports record annual profit amid global travel demand

(MENAFN) Emirates, the leading long-haul airline worldwide, has announced a record-breaking annual profit following its strategic expansion of route networks and increased capacity to accommodate sustained high demand for global travel.

For the financial year ending on March 31, the airline reported a profit of Dh17.2 billion ($4.7 billion), marking a substantial 63 percent increase from the previous year's profit of Dh10.6 billion, as disclosed by Emirates on Monday.

Revenue experienced a notable uptick, rising by 13 percent year-on-year to Dh121.2 billion, attributed to heightened passenger traffic throughout the year.

“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,” Sheikh Ahmed bin Saeed, who serves as both the chairman and chief executive of Emirates airline and group, commented.

“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.”

The Emirates Group additionally revealed a Dh4 billion dividend designated for its shareholder, the Dubai government.

This financial success for the airline coincides with a resurgence in international travel following the impact of the Covid-19 pandemic.

Dubai has experienced an 11 percent rise in tourist arrivals from January to March this year, benefiting from the ongoing recovery in global travel demand.

During the first quarter of 2024, the city welcomed 5.18 million international overnight visitors, compared to 4.67 million arrivals recorded during the same period in the previous year, according to data released by the Dubai Department of Economy and Tourism on May 6th.

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