Emirates Group reported a net profit of US$2.7bn for the first six months, a 138pc increase compared to the corresponding period last year.
Group revenue reached US$18.3bn, a 20pc YoY increase from US$15.3bn.
Emirates airline achieved record profits of US$2.6bn in the first half of 2023-24, surpassing last year’s profits of US$1.1bn.
Emirates carried 26.1m passengers, a 31pc increase over the same period last year.
The group tapped into its own cash reserves to repay debt, including Dhs9.2bn of Covid-19-related loans and Dhs4.5bn in dividends to its owner.
The dnata division of the group reported a revenue increase of 27pc compared to the same period last year, with an overall profit of US$193m.
These positive results follow Emirates Group’s highest-ever annual profit of US$3bn for the previous financial year, 2022-2023, which marked a turnaround from the US$1bn loss the year before.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline said: “our profit for the first six months of 2023-24 has nearly matched our record full year profit in 2022-23. For the second half of 2023-24, we expect customer demand across our business divisions to remain healthy and we will stay agile in how we deploy our resources in this dynamic marketplace. At the same time, we are keeping a close watch on headwinds such as rising fuel prices, the strengthening US dollar, inflationary costs, and geopolitics,”
