Emirates Group Posts $1.1 Billion Pre-Tax Profit in First Half of FY 2026–27 Amid Fuel Headwinds. Aviation and travel conglomerate Emirates Group has announced its financial performance for the first half of fiscal year 2026–27 (ended September 30), posting a profit before tax of AED 4.1 billion ($1.1 billion USD). While maintaining solid profitability across its core divisions, the group’s bottom-line performance faced headwinds from heightened geopolitical unrest in the Middle East, global operational disruptions, and sharp spikes in international jet fuel expenditures.
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Net profit after tax stood at AED 3.6 billion ($1.0 billion USD), down 66% year-over-year. Operating earnings before interest, taxes, depreciation, and amortization (EBITDA) settled at AED 12.5 billion ($3.4 billion USD), compared to AED 21.1 billion ($5.7 billion USD) posted in the corresponding period last year. Consolidated revenues reached AED 66.2 billion ($18.0 billion USD), reflecting a 12% decline.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, highlighted that underlying passenger bookings and freight volumes through Emirates SkyCargo remained resilient. However, he emphasized that global jet fuel prices effectively doubled year-over-year, driving cost inflation across flight operations.
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The group closed the half-year with a cash position of AED 54.1 billion ($14.7 billion USD), compared to AED 59.6 billion reported in March, allowing the holding to support scheduled debt repayments and fund new fleet delivery commitments. Group headcount closed at 128,237 employees (down 2%), with Emirates and ground handling specialist dnata continuing targeted hiring programs and strategic capital investments to support long-term capacity.
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