The Emirates Group posted a profit after tax of $1.0 billion for the first half of the 2026-27 financial year (1 April to 30 September 2026), a 66 per cent plunge from the previous year. The sharp decline came despite firm customer demand, as the ongoing regional conflict and soaring fuel prices disrupted operations.
Group revenue fell 12 per cent to $18.0 billion from $20.6 billion a year earlier, while profit before tax stood at $1.1 billion, reports Reuters on Thursday.
Emirates airline recorded a profit before tax of $1.0 billion, down from $3.1 billion in the same period last year. Its profit after tax stood at $903 million, down 66 per cent, as revenue fell 13 per cent to $15.5 billion.
The airline carried 21.8 million passengers during the six-month period, down 22 per cent year-on-year, while overall capacity declined by 10 per cent. By 30 September, Emirates had restored its network to 91 per cent of pre-disruption levels, serving 150 airports across 78 countries and territories.
Global jet fuel prices doubled year-on-year. The airline remained profitable largely due to its cargo division. Emirates SkyCargo transported 1.2 million tonnes of cargo, a 1 per cent decline. However, cargo revenue surged 52 per cent, driven by reduced airfreight capacity amid the regional conflict and disruptions to maritime transport.
Subsidiary dnata reported revenue of $3.0 billion, down 7 per cent. Its profit after tax fell 56 per cent to $84 million. As of 30 September 2026, the Group employed 128,237 people, a 2 per cent decline from 31 March 2026.
Emirates Airline and Group Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said: “It has been a demanding six months, and once again our business model and our people stood up to the test.”
