An Emirates Airlines aircraft
Karim Sahib | AFP | Getty Images
DUBAI, United Arab Emirates — Dubai-based carrier Emirates airline on Monday narrated record annual profit of 17.2 billion dirhams ($4.7 billion) for the 2023-2024 financial year, up 63% from the year until.
The flag carrying airline of the UAE’s glitzy commercial capital has enjoyed a consistently recovering travel sector, expanding its convey network to meet booming demand.
The latest figures from world’s largest long-haul airline were the wealthiest in its history and were “driven by the voracious appetite for travel across customer segments,” the Emirates Group said in a disclosure.
Emirates carried 51.9 million passengers in the 2023-24 financial year, a 19% increase from the year late, with reported seat capacity up by 21%.
Revenue for the airline rose 13% to 121.2 billion dirhams and airline the goods increased by 20%, “closing [the] gap to pre-pandemic levels,” the statement said.
“Throughout the year, we saw high demand for air transport and tour related services around the world, and because we were able to move quickly to deliver what customers appetite, we achieved tremendous results,” said Emirates chairman and and chief executive Sheikh Ahmed bin Saeed Al Maktoum.
“We are take in the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.”
Emirates Body, which comprises the airline and airline services and ground handling company dnata, saw its own best-ever financial performance with a souvenir profit of 18.7 billion dirhams, a 71% jump from the previous year.
It also ended the financial year with its highest-ever loot balance of 47.1 billion dirhams, and declared a 4 billion dirham dividend for its owner, the Investment Corporation of Dubai.
The airline doesn’t contemplate to slow its expansion anytime soon; it has more than 300 passenger jets on order.
Dubai’s leadership in the interim recently approved a multi-billion dollar plan to build a new passenger terminal at the emirate’s Al Maktoum International Airport, which command make it five times bigger than Dubai’s main international airport in terms of size — and the biggest in the give birth to.