DUBAI — In a resounding display of resilience and operational dominance, the Emirates Group has released its 2025-26 Annual Report, unveiling its most profitable year to date. Despite a final month characterized by significant regional disruption, the Dubai-based aviation giant reported a record profit before tax of AED 24.4 billion ($6.6 billion), representing a 7% increase over the previous year.

Financial Highlights: Breaking All Barriers

The Group’s performance was bolstered by a surge in global travel demand and a strategic expansion of its network. Key financial milestones for the fiscal year ending March 31, 2026, include:

  • Record Revenue: Group revenue climbed to AED 150.5 billion ($41.0 billion), a 3% year-over-year increase.
  • Cash Reserves: The Group’s cash assets reached a historic high of AED 59.6 billion ($16.2 billion), up 12% from 2025.
  • Dividend Payout: A dividend of AED 3.5 billion ($1.0 billion) was declared for its owner, the Investment Corporation of Dubai (ICD).

Emirates Airline: The World’s Most Profitable Carrier

Emirates airline alone contributed significantly to these results, maintaining its title as the world’s most profitable airline. The carrier reported a profit before tax of AED 22.8 billion ($6.2 billion).

The airline’s success was driven by its ability to capitalize on surging demand across all market segments. Notably, Emirates SkyCargo delivered an outstanding performance, carrying 2.4 million tonnes of goods—a 3% increase—supported by the addition of five new Boeing 777 freighters. While fuel remained the largest cost component at 29% of operating costs, the airline benefited from improved efficiencies and a 2% increase in total revenue.

Resilience Amidst Disruption

The stellar performance is particularly noteworthy given the "disruptive and challenging" 12th month of the financial year. Starting in late February 2026, military activities and airspace closures in the Gulf region created significant logistical hurdles.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, praised the organization’s agility:

"For the first 11 months of 2025-26, the picture across the Group was very positive... Although we are still operating at a lower passenger capacity than pre-disruption, cargo operations have ramped up to support the movement of essential goods."

Workforce and Future Outlook

To support this growth, the Group’s total workforce expanded by 8%, now totaling 130,919 employees worldwide. This includes a significant push in "Emiratisation," with the UAE national workforce now surpassing 4,000.

Looking ahead to the 2026-27 cycle, the Group stands on a formidable foundation of cash reserves, allowing it to continue investments in product innovation, technology, and fleet expansion without the need for restrictive cost-control measures. These results reaffirm Dubai’s position as the premier global hub for international aviation.