Emirates Group has today published its Annual report 2023-24including new record levels of profits, revenue and liquidity.
Both Emirates and dnata have seen significant growth in profits and revenues in fiscal year 2023-2024 as the group expanded its operations around the world to meet strong customer demand for its high-quality products and services.
For the financial year ending March 31, 2024, Emirates Group posted a record profit of AED 18.7 billion ($5.1 billion), an increase of 71% compared to profit of 10, 9 billion AED ($3.0 billion) last year. year. The group’s revenue was AED 137.3 billion (US$37.4 billion), an increase of 15% on last year’s results. The group’s cash balance has been AED 47.1 billion (US$12.8 billion), the highest ever reported, an increase of 11% on last year.
The group’s total profit in the last two years of AED 29.6 billion exceeds pandemic losses of AED 25.9 billion in the years 2020-2022.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of the airline and the Emirates Group, said: “The Emirates Group has once again raised the bar to achieve a new record financial year. Throughout the year, we have seen strong demand for air transport and travel-related services around the world and by being able to act quickly to deliver what customers want, we have achieved excellent results “We are reaping the benefits of years of continuous investment in our products and services, in building strong partnerships and in cooperation. the capabilities of our talented employees.
He added: “Credit must also be given to the visionary leaders of the United Arab Emirates, especially His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE) and Ruler of Dubai. It is thanks to his leadership and the nation’s progressive policy that Emirates Group can thrive «Both Emirates and dnata have built successful business models leveraging Dubai’s unique advantages, which in turn generate enormous value for Dubai and the communities they serve. that serve all over the world.
His Highness Sheikh Ahmed continues: “The Group’s excellent financial position today puts us in an optimal position for future growth and success. It allows us to invest to offer even better products and services and more value to our customers and concerned parties”.
Numerous high-profile projects are already underway, including: a multi-million pound fleet and cabin renewal programme; new possibilities Catering, property and territorial assistance; advanced technologies to support the Group’s operations; expanded training and people development programs; and initiatives to advance the group’s sustainability agenda.
In the year 2023-2024, the group has collectively invested AED 8.8 billion ($2.4 billion) in new aircraft, facilities, equipment, businesses and the latest technologies to drive its growth plans.
The Group’s total workforce has grown by 10% to 112,406 employees, the highest number to date. In parallel, Emirates and dnata have continued to hire employees around the world to support their expanding operations and future capabilities.
The Group has taken important steps on its sustainability path during 2023-2024, launching several initiatives focused on the environment, its employees, its customers and its local communities.
