Emirates Group has reported its most profitable year ever with a record annual profit of Dh10.9 billion ($3.0 billion). This is a significant turnaround from its loss position last year.
The group revenue of Dh119.8 billion ($32.6 billion) increased by 81% with strong customer demand worldwide with almost all travel restrictions removed post Covid-19 pandemic.
Both Emirates and dnata saw significant revenue increases in 2022-23 as the group expanded its air transport and travel-related operations following the removal of nearly all pandemic-related restrictions around the world.
For the financial year ended 31 March 2023, the Emirates Group posted a record profit of Dh10.9 billion ($3.0 billion) compared with an Dh3.8 billion ($1.0 billion) loss for last year.
“We’re proud of our 2022-23 performance which is not only a full recovery, but also a record result,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group.
“This achievement would not have been possible without His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, whose leadership has been critical to our success today and through the years. The architect of Dubai’s progressive economic policies, Sheikh Mohammed is also the engine behind the Emirates Group’s trajectory. Without his drive and support, Emirates will be half the size of what we are today.”
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