The Emirates Group remained profitable in the first half of the 2026-27 financial year despite regional challenges and rising fuel costs, highlighting the resilience of its business model and operational efficiency.
After accounting for income tax charges, its profit after tax was Dh3.6 billion, down 66 per cent from last year.
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Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline & Group, credited the performance to the efforts of its teams and their ability to navigate challenging operating conditions.
“I would like to commend the exceptional efforts exerted by the government of the UAE and its ongoing support, which played a pivotal role in overcoming challenges and ensuring the continuity of operations in the aviation sector,” he said.
At Emirates and dnata, he said, the group continues to invest with a long-term vision, grounded in excellence in customer experience, developing future capabilities, and enhancing our readiness to seize growth opportunities, thereby ensuring the sustainability of our success and solidifying our position in the global aviation industry.
Demanding 6 months
Since the outbreak of the regioanl war involving the US-Israel and Iran, the GCC aviation was disrupted through airspace restrictions, flight diversions and higher operating costs.
Airlines faced longer routes, increased fuel consumption, higher insurance premiums and passenger uncertainty.
“It has been a demanding six months, and once again our business model and our people stood up to the test. Against unprecedented regional challenges and high fuel prices, the Group has delivered a profit before tax of Dh4.1 billion. Customer demand held firm and our cargo operations made a strong contribution, keeping revenue and cash levels healthy even as global jet fuel prices doubled against the same period last year, impacting our costs and profitability,” said Sheikh Ahmed.
“I’d like to thank the UAE government for its decisive response and its co-ordination of all stakeholders to enable the safe resumption of air transport in the aftermath of military activity across the Gulf region. The government’s measures have also led to the easing of travel advisories to and through the UAE. This has allowed us to restore our operations with confidence and to keep serving our customers and communities, he said in a statement on Thursday.
Revenue down 12%
Emirates chief stressed that the group didn’t pause its investments, continued to expand its fleet, and develop capabilities.
The Group achieved an Ebitda of Dh12.5 billion, 41 per cent lower than the Dh21.1 billion reported for the same period last year.
Group revenue was Dh66.2 billion for the first six months of 2026-27, down 12 per cent from Dh75.4 billion (US$ 20.6 billion) last year.
The Group closed the first half year of 2026-27 with a cash position of Dh54.1 billion on September 30, 2026, compared to Dh59.6 billion on March 31, 2026.
The group said it has been able to tap on its own strong cash reserves to support business needs, including pre-delivery payments for aircraft and servicing existing debt obligations. The Group also paid the remaining Dh2 billion in dividend to its owner, the Investment Corporation of Dubai (ICD), of the Dh3.5 billion declared for the financial year 2025-26.
Employees shrink
Sheikh Ahmed said the group entered the second half of 2026-27 with “measured optimism”.
He added that the group will keep a close watch on costs and geopolitical developments.
“We’ve weathered challenges before, and with our strong cash position and solid foundation built up over the years, the Group is well-placed to navigate the headwinds of volatility and high fuel prices.”
Compared to March 31, 2026, the Emirates Group’s employee base dropped by 2 per cent to 128,237 on September 30, 2026.
Source: Khaleej Times