Despite a disruptive and challenging year, Emirates remains the world’s most profitable airline.
The Emirates Group has released its 2025-26 Annual Report, achieving new record profit, revenue and cash balance levels.
For the financial year ended March 31, the Group reported:
- Record profit before tax (PBT) of AED 24.4 billion ($US 6.6 billion), up 7% from last year, and a PBT margin of 16.2%
- Record revenue of AED 150.5 billion ($US 41.0 billion), up 3% over last year’s results
- Record level of cash assets at AED 59.6 billion ($US 16.2 billion), up 12% from last year
- EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of AED 41.1 billion ($US 11.2 billion), reflecting its strong operating profitability.
“These outstanding results, despite significant challenges in the last month of our financial year, reaffirm the strength and resilience of the Emirates Group’s business model, which is rooted in safety, excellence, innovation, people and partnerships,” said His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group.
“For the first 11 months of 2025-26, the picture across the Group was very positive.
“Strong demand for our products and services was driving revenue and we were achieving healthy margins thanks to our sustained investments in product, people, technology and brand. Month after month, we were surpassing our targets.”
Emirates retained its place as the world’s most profitable airline, reporting:
- Record profit before tax (PBT) of AED 22.8 billion ($US 6.2 billion), up 7% from last year, and a PBT margin of 17.4%
- Record revenue of AED 130.9 billion ($US 35.7 billion), an increase of 2% over last year
- Highest-ever level of cash assets at AED 54.9 billion ($US 15.0 billion), 10% higher compared to March 31, 2025.
In 2025-26, the Group collectively invested AED 17.9 billion ($US 4.9 billion) in new aircraft, facilities, equipment and the latest technologies to support its growth plans.
“Our aircraft deliveries and retrofit programme will continue apace, as well as our planned investments in new facilities and equipment,” added Sheikh Ahmed.
“Emirates and dnata will stay focused on offering industry-leading products and customer experiences, differentiating ourselves on the global stage, attracting the best talent and delivering value to the communities we serve.”
