Emirates Group reports 66% drop in half-year profit amid regional conflict and higher fuel costs

The Emirates Group reported a profit before tax of AED 4.1 billion (US$ 1.1 billion) for the first half of its 2026-27 financial year, representing a 66% decrease compared with the same period last year.

Revenue fell 12% to AED 66.2 billion (US$ 18 billion), as the group faced disruption from the regional conflict and significantly higher fuel costs.

Emirates Airline recorded a profit before tax of AED 3.7 billion (US$ 1 billion), down 68%, while revenue declined 13% to AED 56.9 billion (US$ 15.5 billion). Strong cargo performance helped support revenue, although higher fuel prices weighed heavily on profitability. Ground services provider dnata reported a profit before tax of AED 410 million (US$ 112 million), down 51%, with revenue decreasing 7% to AED 11 billion (US$ 3 billion).

The Group’s EBITDA reached AED 12.5 billion (US$ 3.4 billion), while its cash position stood at AED 54.1 billion (US$ 14.7 billion) at the end of September. The workforce decreased by 2% to 128,237 employees.

Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said customer demand remained firm and praised the UAE government’s response in restoring air transport operations following military activity across the Gulf region. He added that Emirates and dnata would continue investing in fleet expansion, products and services despite the challenging operating environment.

The Group said it remains cautiously optimistic about the second half of the financial year, while keeping a close watch on fuel prices and geopolitical developments.