Emirates carried 21.8 million passengers in the first half of the 2026–2027 financial year, down 22% compared with the same period last year. By September 30, 2026, the airline had restored 91% of its network before the disruptions, as airspace restrictions and operational challenges continued to affect the region.
Results for April 1 to September 30, 2026 showed that passenger capacity, measured in available seat kilometres, fell 17%, while passenger traffic, measured in revenue passenger kilometres, declined 25% year on year, according to a publication on the Emirates website.
The passenger seat factor fell to 72%, compared with 79.5% in the corresponding period of the previous financial year, a decrease of 7.5 percentage points.
Emirates restores 91% of its network
During the first half of the financial year, Emirates continued restoring operations following regional disruptions and intermittent airspace restrictions and closures.
By the end of September 2026, the airline had restored 91% of its pre-disruption network, with passenger and cargo services reaching 150 airports in 78 countries and territories.
The airline also introduced measures to support passengers, including free changes to travel dates on booked tickets, more flexible refund policies and travel insurance coverage unaffected by government travel advisories, according to its announcement.
Nine new Airbus A350s and 12 aircraft refurbished
Emirates received nine new Airbus A350 aircraft in the first half of the financial year and completed cabin refurbishments on 12 aircraft: nine Airbus A380s and three Boeing 777s.
The airline continued its fleet cabin refurbishment programme, with planned investment exceeding US$7 billion, to make its latest products more widely available, including Premium Economy seating.
It also equipped another 36 aircraft with Starlink satellite internet during the period, bringing the total number fitted with the service to 57 by the end of September 2026.
Emirates’ after-tax profit falls to AED 3.3 billion
Emirates reported profit before tax of AED 3.7 billion in the first half of 2026–2027, compared with AED 11.4 billion in the corresponding period last year.
Net profit after tax reached AED 3.3 billion, down 66%, while revenue declined 13% to AED 56.9 billion.
Fuel costs before hedging gains rose 60%, despite a 12% reduction in consumption resulting from reduced operations. Fuel risk management gains of AED 7.1 billion helped contain the increase, limiting the net rise in fuel costs to 13%. Fuel accounted for 34% of the airline’s total operating costs during the period.
dnata travel revenue falls 31% to AED 1.4 billion
dnata’s travel division recorded revenue of AED 1.4 billion (approximately US$373 million) in the first half of 2026–2027, down 31% from AED 2 billion (around US$538 million) in the same period of the previous financial year.
The company said the decline was primarily attributable to its exit from Travel Republic and Netflights in the United Kingdom, which stopped accepting new bookings from November 2025.
The underlying total transaction value (TTV) of travel services sold also fell 22% to AED 3.8 billion (approximately US$1 billion), compared with AED 5 billion (around US$1.4 billion) a year earlier.
As part of developing its travel business, dnata combined the operations of Imagine Cruising and Travelbag to bring their services together, increase scale, share expertise and support growth in international markets.
