Emirates has climbed to the top of the global aviation tree – at least in monetary terms – posting the best financial performance in its 39-year history – and the best result of any airline in the world for 2024-25.
The Dubai-based carrier reported a pre-tax profit of AED 21.2 billion (AU$8.6 billion), a 20 per cent jump from the previous year, as part of the broader Emirates Group’s record AED 22.7 billion (AU$9.2 billion) profit.
Revenue for the airline alone hit AED 127.9 billion (AU$52.1 billion), up 6 per cent year-on-year.
“For 2024-25, the Emirates Group has raised the bar to set new records for profit, revenue, and cash assets,” Emirates airline and Group Chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum said.
“Through the year, Emirates and dnata were able to move quickly to meet the strong demand for air transport services across markets and win over customers – thanks to our non-stop investments in our people, in building partnerships, and in delivering great products and services.”
Passenger appetite continues to rise, with Emirates flying 53.7 million people in the last financial year – an increase of 3 per cent.
With seat capacity also up by 4 per cent, the airline posted a still-healthy passenger seat factor of 78.9 per cent, just a shade under last year’s result.
Emirates says its Premium Economy product and inflight enhancements likely helped maintain its customer appeal.
Aussie angle
Australian skies are no stranger to Emirates’ growth story. In 2024-25, it restarted its Adelaide route, bringing its Australian network back to full strength. The SA city was also recently confirmed as the first port globally to receive the airline’s new long-range Airbus A350 from December.
Dnata, the Group’s ground handling and catering arm, is also backing its Aussie operations, investing AU$17 million in a new inflight catering facility at the under-construction Western Sydney Airport and expanding its Melbourne site to churn out 25 million meals annually.
Fuelled by a strong global network and loyal customer base, Emirates says it has been putting its cash to good use. The airline added four new Airbus A350s to its fleet and expanded its retrofit program to include 219 aircraft, investing US$5 billion (AU$7.7 billion) in a cabin refresh to meet rising demand.
While delays in new aircraft deliveries persist, Emirates says isn’t standing still. It now has 314 aircraft on order, including Boeing 777Xs, 787s, and A350s, positioning itself well for continued growth. By the end of March 2025, the fleet stood at 260 aircraft with an average age of 10.7 years.
The airline’s healthy profit margin of 14.9 per cent marks a new high, even with headwinds like currency fluctuations dragging down profits by AED 718 million (AU$294 million). Fuel and employee costs were the largest line items, but Emirates still managed to slightly reduce its fuel bill thanks to hedging gains and lower fuel prices.
Green goals
According to the Dubai-based airline, sustainability also remains a priority. Over the past year, the carrier began using Sustainable Aviation Fuel (SAF) at both London Heathrow and Singapore, joined Germany’s renewable aviation initiative, and launched a large-scale solar project at its Dubai engineering centre to cover 37 per cent of the site’s power needs.
It’s also backing marine conservation through the Dubai Reef project and supporting disadvantaged communities through initiatives like Aircrafted Kids, which turns old seat fabric into schoolbags for children in need.
Meanwhile, dnata also delivered a solid performance, recording a 2 per cent rise in pre-tax profit to AED 1.6 billion (AU$640 million), with strong results in airport services and catering. Its total revenue rose 10 per cent to AED 21.1 billion (AU$8.6 billion), buoyed by increased travel activity in key markets such as Australia, Europe and the US.
“When the [Dubai] government set up Emirates 40 years ago and we began expanding dnata’s capabilities to support the city’s growth, we had a clear mission – be the best at what we do,” Sheikh Ahmed added.
“With that in mind, we’ve kept a laser focus on providing great products and services, and we continually invest in technology and talent to increase our competitive edge.”
