The Emirates Group posted a record profit before tax of AED 24.4bn ($6.65bn) in the 2025-26 financial year, up 7% y/y.

This strong performance from the Dubai-based group came despite the Iran war affecting the final month of the financial year, with the United Arab Emirates’ aviation sector repeatedly disrupted.

Prior to the release of its latest financial earnings, Emirates CEO Tim Clark projected a swift recovery despite the airline currently operating at 65% of capacity, reaffirming expectations that Emirates will close the year as the industry's most profitable carrier.

According to the company press release, group revenue rose 3% to a record AED 150.5bn ($41bn), with EBITDA reaching AED 41.1bn ($11.20bn) and a profit before tax margin of 16.2%. Cash assets climbed 12% to AED 59.6bn ($16.24bn), providing the liquidity buffer that group chairman Sheikh Ahmed bin Saeed Al Maktoum cited as central to the group's ability to sustain investment without resorting to cost-cutting.

The group declared a dividend of AED 3.5bn ($953mn) to its owner, the Investment Corporation of Dubai, while group profit after tax settled at AED 21bn ($5.72bn), up 3%, after the effective tax rate rose from 9% to 15% under Pillar Two rules.

Emirates Airline retained its position as the world's most profitable carrier with a record profit before tax of AED 22.8bn ($6.21bn), a 17.4% margin, on revenue of AED 130.9bn ($35.67bn).

The airline carried 53.2mn passengers, down 1%, with seat capacity also contracting 1% and passenger seat factor marginally easing to 78.4% from 78.9% the prior year. Passenger yield rose 4% to 38.1 fils per revenue passenger kilometre, partially offsetting the volume pressure. Emirates SkyCargo carried 2.4mn tonnes of goods, up 3%, with five new Boeing 777 freighters lifting freighter capacity 13%.

Ground services arm dnata posted record profit before tax of AED1.6bn ($436mn), up 2%, on a 12% revenue rise to AED23.6bn ($6.43bn), with cash assets climbing 28% to AED4.7bn ($1.28bn).

The group invested AED 17.9bn ($4.88bn) in new aircraft, facilities and technology during the year, taking delivery of 15 Airbus A350s and closing the period with a 277-strong fleet at an average age of 10.8 years.

An order book of 367 aircraft, including 65 additional Boeing 777-9s and eight A350-900s announced at the 2025 Dubai Airshow, extends delivery commitments through 2038, positioning the group to capitalise aggressively on an expected demand recovery.