Emirates Group Reports Record FY 2024/25 Profit of $6.2 Billion

Emirates has reported a record fiscal 2024/25 net profit of AED 22.7 billion (US $6.2 billion) on a year-over-year increase in revenue of 6.0 percent to AED 145.4 billion (US $39.6 billion).  The Group ended the financial year with AED 53.4 billion (US $14.6 billion) in cash.

Emirates Airbus A350 - Courtesy Emirates

On Thursday (May 8, 2025), Emirates Group reported their fiscal 2024/25 financial results for the period ending March 31, 2025.  The Group reported a record profit of AED 22.7 billion (US $6.2 billion) on a 6.0 percent year-over-year increase in revenue to AED 145.4 billion (US $39.6 billion).  At the end of the fiscal year, the Group had AED 53.4 billion (US $14.6 billion) in cash, up 13 percent compared to the end of the previous fiscal year.  Emirates Airline reported a record pre-tax profit of AED 21.2 billion (US $5.8 billion) up 20 percent compared to last year on record revenue of AED 127.9 billion (US $34.9 billion), up 16 percent compared to the previous financial year.

In Thursday’s announcement, Emirates Airline and Group’s Chairman and Chief Executive, His Highness Sheikh Ahmed bin Saeed Al Maktoum, said,

“It is no accident that Dubai has produced hugely successful global aviation entities including Emirates and dnata.  Dubai’s aviation sector has become an influential force on the global stage thanks to visionary leaders, strategic planning, co-ordinated execution, and strong support from our customers, business partners, and all the people of Dubai. 

“When the government set up Emirates 40 years ago and we began expanding dnata’s capabilities to support the city’s growth, we had a clear mission - be the best at what we do; and deliver value to Dubai, our stakeholders, and the communities we serve.

“With that in mind, we’ve kept a laser focus on providing great products and services, and we continually invest in technology and talent to increase our competitive edge.  We look after our people and our customers, and we work hard to positively impact our communities.  We don’t cut corners, and we don’t take shortcuts that put our future at risk for short term gains.  By building our business models around these principles and Dubai’s unique strengths, the Emirates Group has thrived and stayed resilient through geo-political and socio-economic challenges over the years.

“For 2024-25, the Emirates Group has raised the bar to set new records for profit, revenue, and cash assets. Through the year, Emirates and dnata were able to move quickly to meet the strong demand for air transport services across markets and win over customers - thanks to our non-stop investments in our people, in building partnerships, and in delivering great products and services.

“I’d like to thank our amazing people at the Emirates Group for achieving another record year, and our customers and partners for their trust and support. My gratitude to Dubai’s visionary leaders HH Sheikh Mohammed bin Rashid Al Maktoum, and his sons HH Sheikh Hamdan and HH Sheikh Maktoum, for their continued leadership and stewardship of Dubai’s strategy, in which the Emirates Group is proud to play a key role.”

dnata also reported a record pre-tax profit of AED 1.6 billion (US $430 million) on a 10 percent year-over-year increase in revenue of 10 percent to a record AED 21.1 billion (US $5.8 billion).  dnata ended the financial year with cash assets totaling AED 3.7 billion (US $1.0 billion).  The Group declared a dividend of AED 6.0 billion (US $1.6 billion) to its owner, the Investment Corporation of Dubai (ICD).  During FY2024/25 Emirates invested a total of AED 14.0 billion (US $3.8 billion) in new aircraft, facilities, equipment, companies and the latest technologies.  The airline's total passenger and cargo capacity grew 4.0 percent during 2024/25 to 60.0 billion ATKMs, recovering to near pre-pandemic levels.

During the financial year, Emirates launched new service to Bogotá and Madagascar, and restarted flights to Phnom Penh, Lagos, Adelaide and Edinburgh, while strengthening service to 21 additional destinations.  As of March 31, 2025, Emirates served 148 cities in 80 countries and territories.  The carrier also grew their partnerships to 33 codeshare and 118 interline partners, providing customers seamless access to over 1,750 cities beyond their network.

The first Airbus A350 aircraft joined Emirates’ fleet this year, bringing added capacity for the airline to serve customer demand with its latest products, including the popular Premium Economy Class and a new-generation inflight entertainment system. By 31 March, Emirates had four A350s in its fleet flying to Edinburgh, Ahmedabad, Bahrain, Colombo, Kuwait and Mumbai.  

In light of continued delays in the delivery of new aircraft, Emirates added 99 more aircraft to their retrofit program, which will now see a total of 219 aircraft undergoing a complete cabin refresh, representing a total investment of $5.0 billion.  At March 31, 2025, Emirates’ orderbook included 314 aircraft pending delivery, including 61Airbus A350s, 205 Boeing 777X, 35 Boeing 787 Dreamliners, and 13 777 Freighters.  Emirates ended the financial year with a fleet of 260 aircraft, with an average age of 10.7 years.

Emirates SkyCargo carried 2.3 million tonnes of goods worldwide during FY 2024/25, up year-over-year by 7.0 percent. This growth was supported by the delivery of two new Boeing 777 Freighters and two wet-leased 747 Freighters.  SkyCargo reported revenue of AED 16.1 billion (US $4.4 billion), contributing 13 percent to the Group’s total revenue.  During the year, Emirates added Copenhagen to their freighter network, and signed an MoU with Astral Aviation to expand their reach in Africa.  The carrier also placed orders for 10 additional Boeing 777Fs, expanding their freighter orderbook to 13.  Emirates SkyCargo expects to operate a fleet of 21 freighters by December 2026.  At March 31, 2025, Emirates SkyCargo fleet stood at 10 Boeing 777 Freighters.

Source: Emirates