Emirates Group stays in profit, with Dh4.1 billion in the first half

Emirates Group stayed profitable in a hard six months. The Dubai airline group reported a profit before tax of Dh4.1 billion for the first half of its 2026-27 financial year, from April to the end of September, on revenue of Dh66.2 billion. Profit was 66% lower and revenue 12% lower than in the same period a year earlier, when the group made a record Dh12.2 billion before tax on Dh75.4 billion of revenue.

The group said the result came despite the disruption and high fuel prices caused by the conflict in the region. Its chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, called the period demanding, said customer demand had held up and cargo had made a strong contribution, and said the group enters the second half with measured optimism.

The airline itself made Dh3.7 billion before tax, down 68%, on revenue of Dh56.9 billion. It carried 21.8 million passengers, 22% fewer than a year before, and its seat factor fell from 79.5% to 72%. Fuel was the biggest pressure: before hedging, fuel costs rose 60% even though the airline burned 12% less, and hedging gains of Dh7.1 billion held the net increase to 13%. Cargo was the bright spot, with Emirates SkyCargo revenue up 52% on almost the same tonnage. dnata, the group's airport and travel services arm, made Dh410 million before tax, down 51%.

The group also spent. Emirates took delivery of nine A350s and five 777 freighters, finished new cabins on 12 aircraft and now has Starlink Wi-Fi on 57 planes. The group's cash fell to Dh54.1 billion at the end of September from Dh59.6 billion in March, as it paid for aircraft and debt and paid the last Dh2 billion of its dividend to its owner, the Investment Corporation of Dubai. Staff numbers fell 2% to 128,237, though the group says Emirates and dnata are still hiring.

Dubai International is on the way back too. Dubai Airports said this week that DXB handled 31.5 million passengers in the first half of 2026 and expects more than 70 million by the end of the year, against a record 95.2 million in 2025.

For travellers, Emirates now flies to 150 airports in 78 countries and territories, 91% of the network it ran before the disruption. The airline says it has added travel cover that is not limited by government travel advisories, free date changes and more generous refunds, so check those terms when you book, and check your route is running before you plan a trip around it.