Emirates Group posted a pre-tax profit of $1.1 billion in the first six months of the 2026–2027 fiscal year, despite the impact of ongoing conflicts in the Gulf region and high fuel costs.
The Group’s revenue totaled $18 billion, a 12 percent decrease compared to the same period last year, while Emirates Airline reported $1 billion in pre-tax profit and dnata reported $112 million. Strong passenger demand and performance in cargo transportation supported the Group’s financial resilience, despite the impact of regional developments on operations. The Emirates Group continued its investments in new aircraft, cabin refurbishment programs, and projects aimed at enhancing the customer experience.
The Emirates Group announced its financial results for the first six months of the 2026–2027 fiscal year. The Group posted a pre-tax profit of 4.1 billion AED (1.1 billion dollars) despite operational disruptions caused by ongoing conflicts in the Gulf region and high fuel prices. This figure represents a 66 percent decline compared to the same period last year.
The Emirates Group’s cash holdings decreased from 59.6 billion AED ($16.2 billion) as of March 31, 2026, to 54.1 billion AED ($14.7 billion) as of September 30, 2026. The Group used its strong cash reserves to meet operational needs, including pre-delivery payments for aircraft and existing debt obligations. It also paid the remaining 2 billion AED ($545 million) of the total 3.5 billion AED ($953 million) dividend announced for the 2025–2026 fiscal year to its owner, the Dubai Investment Corporation (ICD).
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and the Emirates Group, commented on the financial results, saying: “The past six months have been quite challenging. However, our business model and our employees once again successfully passed this test. Despite unprecedented challenges in the region and high fuel prices, our Group generated a pre-tax profit of 4.1 billion AED ($1.1 billion). While customer demand remained strong, our cargo operations also made a significant contribution. Although global jet fuel prices doubled compared to the same period last year, negatively impacting our costs and profitability, we managed to maintain our revenues and cash reserves at strong levels.”
I would like to thank the UAE government for taking decisive steps to ensure the safe resumption of air travel following the military activities in the Gulf region and for facilitating coordination among all stakeholders. The measures taken by the government also contributed to the easing of travel advisories regarding the UAE and travel through the UAE. This allowed us to safely resume our operations and continue serving our customers. We have not paused our investments throughout this process. Emirates and dnata continue to allocate significant resources to expand their fleets, enhance their products and services, and build the capabilities that will shape the future of our operations. This approach enables us to maintain our leading position in the industry and sustain our resilience in the face of challenges arising from external factors."
Sheikh Ahmed continued: “We are entering the second half of our 2026–2027 fiscal year with cautious optimism. While closely monitoring costs and geopolitical developments, we remain focused on safety, quality, and customer satisfaction—the core priorities of Emirates and dnata. We have overcome many challenges in the past. Thanks to our strong cash position and the solid foundations we have built over the years, our Group is in a strong position to weather the challenges posed by regional uncertainties and high fuel prices.”
The total number of employees at the Emirates Group decreased by 2 percent compared to March 31, 2026, reaching 128,237 as of September 30, 2026. However, Emirates and dnata continue to hire to meet their operational needs.
