Emirates Group announced a profit before tax of AED 4.1 billion (approximately US$1.1 billion) for the first half of the 2026–2027 financial year. Net profit after tax stood at AED 3.6 billion (around US$1 billion), down 66% compared with the same period a year earlier.
The Group said revenue for the six months ended September 30, 2026 reached AED 66.2 billion (approximately US$18 billion), a decline of 12% from AED 75.4 billion (around US$20.6 billion) in the corresponding period of the previous financial year, according to a publication on the Emirates website.
Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled AED 12.5 billion (approximately US$3.4 billion), compared with AED 21.1 billion (around US$5.7 billion) a year earlier, a decrease of 41%.
The results came as regional disruptions continued to affect air traffic and operating costs rose sharply, particularly jet fuel prices, which the Group said had doubled globally compared with the same period last year.
Emirates Group net profit falls 66%
Emirates Group recorded net profit after tax of AED 3.6 billion in the first half of 2026–2027, down 66% year on year, while remaining profitable during the period.
Group revenue fell 12% to AED 66.2 billion, while EBITDA declined 41% to AED 12.5 billion.
These results reflect the pressures on the Group’s businesses during the first six months of the financial year, as regional disruptions affected flight operations and fuel costs increased.
The Group had posted new records for profit and revenue in the corresponding period of the previous financial year, according to its financial results statement.
Cash balance reaches AED 54.1 billion at the end of September
Emirates Group ended the first half of 2026–2027 with cash balances of AED 54.1 billion (approximately US$14.7 billion) on September 30, 2026, compared with AED 59.6 billion (around US$16.2 billion) on March 31 of the same year.
The Group said its cash reserves enabled it to continue meeting financial and operational requirements, including pre-delivery payments for new aircraft orders and existing debt obligations.
The Group also paid AED 2 billion (approximately US$545 million), representing the remaining portion of a previously announced AED 3.5 billion (around US$953 million) distribution to its owner, the Investment Corporation of Dubai, declared at the end of the 2025–2026 financial year.
Higher jet fuel prices weigh on Emirates Group profit
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said achieving AED 4.1 billion in profit before tax over the past six months reflected the Group’s ability to navigate operational and financial challenges.
He noted that unprecedented regional disruptions had affected air traffic, alongside a steep increase in fuel prices, putting significant pressure on operating costs and profitability.
He added that demand for the Group’s services remained strong and that air cargo operations played a key role in supporting revenue despite challenging market conditions.
He said global jet fuel prices had doubled compared with the same period last year, increasing operating costs in the first half of the financial year.
Emirates and dnata continue their investment plans
Sheikh Ahmed bin Saeed Al Maktoum confirmed that Emirates and dnata continued implementing their investment plans during the period, including fleet expansion, product and service development, and strengthening operational and technological capabilities.
He explained that the Group drew on previous investments and financial reserves to manage operational disruptions and higher costs while continuing to meet its commitments.
He also highlighted the UAE government’s response and coordination among the relevant authorities to resume air transport safely following developments in the Gulf region.
He said government measures helped ease travel advisories concerning travel to and through the UAE and created conditions for operations to recover.
Looking ahead to the second half of 2026–2027, he confirmed that the Group would continue monitoring geopolitical developments and managing costs while investing in its businesses and services.
Emirates Group workforce decreases to 128,237
Emirates Group’s total workforce stood at 128,237 employees on September 30, 2026, a decrease of 2% compared with the end of March that year.
Despite the reduction in its overall workforce, the Group said Emirates and dnata continued recruitment campaigns to meet business and operational requirements.
This coincides with continued investment in fleets, services and technology as the Group works to strengthen its operational capabilities in the period ahead.
