JobXDubai

Dubai’s Emirates Group has announced its strongest financial performance to date for the fiscal year 2023-24, achieving remarkable profits, revenue, and cash asset levels.

A 71% Surge in Profits

The company reported an impressive total profit of AED 18.7 billion, marking an exceptional 71 percent surge compared to the previous year. The Group announced that it will be distributing $1.89 billion in dividends to its parent company, the Investment Corporation of Dubai.

Investing in the Future

Emirates invested $2.4 billion in new aircraft, facilities, equipment, companies, and technologies to support its growth plans. Its total workforce grew 10 percent to over 112,000 employees, a record high, as it continued recruiting globally to expand operations and build future capabilities.

Sustainability Efforts

The company focused on sustainability efforts, signing new agreements to use sustainable aviation fuel at its Dubai hub for the first time, as well as in Amsterdam and Singapore. It operated the first A380 test flight with one engine running entirely on sustainable fuel to gather data supporting industry efforts to enable fully sustainable flying.

Passenger and Cargo Capacity Growth

Emirates’ total passenger and cargo capacity grew by 20 percent to 57.7 billion ATKMs, nearly reaching pre-pandemic levels. More connection options were provided by restarting Tokyo Haneda service and adding flights to 29 destinations.

dnata Reports Record Results

dnata, which provides airport services, catering, and travel, had its most successful year to date. Revenue for dnata grew 29 percent to a new high of AED19.2 billion. All divisions performed well due to more flights and passengers.

Looking Ahead

“We enter our 2024-25 financial year on strong foundations for continued growth. Emirates will receive delivery of 10 new A350 aircraft in 2024-25, adding to our fleet mix and supporting the next phase of its network growth. dnata will continue to leverage synergies and scale across its business divisions to grow its footprint and capabilities. In tandem, we are investing resources to minimize our environmental impact, develop our people, look after our customers and the communities we serve,” Sheikh Ahmed said.