Emirates Group posts record 2025–2026 financial results with AED 150.5bn revenue
Emirates Group reports record 2025–2026 results: AED 150.5bn revenue, AED 24.4bn pre-tax profit and AED 59.6bn cash balances as of March 31, 2026.
The Emirates Group reported record financial results for the year ended March 31, 2026, with the main highlights including AED 150.5 billion in revenue and AED 24.4 billion in pre-tax profit. The company’s strong cash position and broad operational recovery underpin the results amid a challenging operating environment in the final month of the fiscal year. Senior leaders framed the outcomes as evidence of the resilience of Dubai’s economic model and the group’s capacity to adapt and grow.
Record group performance for 2025–2026
The group’s consolidated revenue reached AED 150.5 billion, up 3 percent year-on-year, while pre-tax profit rose 7 percent to AED 24.4 billion. Cash balances climbed to a record AED 59.6 billion, a 12 percent increase compared with the prior year, supporting liquidity and contractual commitments. EBITDA for the period was reported at AED 41.1 billion, reflecting sustained operational cash generation across the portfolio.
Tax change and impact on net profit
During the year the corporate tax rate applied to the group increased from 9 percent to 15 percent following adoption of international Pillar Two rules. After accounting for the higher tax rate, Emirates Group recorded a net profit of AED 21 billion, a 3 percent increase versus the prior year. The group also announced a distribution of AED 3.5 billion to its owner, the Investment Corporation of Dubai.
Emirates airline posts strongest-ever margins
Emirates airline delivered a standout performance with AED 130.9 billion in revenue, up 2 percent, and pre-tax profit of AED 22.8 billion, up 7 percent. The carrier reported a pre-tax margin of 17.4 percent and an after-tax profit of AED 19.7 billion, the strongest results in its history for the reporting period. Emirates expanded its network to 152 cities in 80 countries, carried 53.2 million passengers and maintained fleet strength with 277 aircraft and 19 Airbus A350s in service.
dnata and cargo operations drive diversification
dnata posted a 12 percent rise in revenue to AED 23.6 billion and pre-tax profit of AED 1.6 billion, with international operations accounting for 77 percent of revenue. The company increased cargo and ground-handling volumes, serving 888,793 aircraft movements and handling 3.2 million tonnes of cargo globally. Emirates SkyCargo reported 2.4 million tonnes carried, a 3 percent increase, and bolstered capacity with five Boeing 777 freighters added during the year.
Liquidity, investments and fleet modernisation
The group invested AED 17.9 billion in new aircraft, facilities, equipment and technology during the year to support growth and service quality. A $5 billion fleet refurbishment programme progressed, with 91 of 215 targeted aircraft updated to the latest product standards, including premium economy seating. Management highlighted a strong fuel hedging position extending to the 2028–2029 financial year and confirmed the ability to meet pre-delivery payments and financing obligations from robust cash reserves.
Leadership statements and outlook for 2026–2027
Senior leadership described the results as validation of Dubai’s long-term vision and the group’s strategic roadmap. Sheikh Mohammed bin Rashid Al Maktoum said the performance reflects the city’s model of vision and will, while Ahmed bin Saeed Al Maktoum emphasised the role of staff, partners and infrastructure in sustaining operations during regional disruptions. The group enters the 2026–2027 year with a stated focus on fleet renewal, customer experience enhancement and attracting talent while expecting gradual market stabilisation as regional tensions ease.
Emirates Group also reported workforce growth to 130,919 employees, an 8 percent increase year-on-year, including more than 4,000 UAE nationals, reflecting ongoing recruitment and localisation efforts. The group reiterated its commitment to global connectivity, operational resilience and delivering value to stakeholders as it implements its capital and service programmes into the new financial year.