Emirates Group obtained net profit of 3.6 billion dirhams (873.5 million euros) in the first half of its fiscal year 2027, which implies a 66% decline compared with the same period of the previous year, in an environment shaped by operational disruptions and the sharp increase in the cost of fuel derived from the conflict in the Middle East.
During these months, the airline Emirates has prioritized the recovery of its network and connections through its Dubai hub. As of September 30, it had already restored 91% of its network prior to the disruptions, with passenger and cargo services to 150 airports spread across 78 countries and territories.
At the same time, the group has driven several measures to strengthen travelers’ confidence, such as comprehensive travel coverage, date changes at no additional cost on already issued tickets, and more flexible refund policies, as detailed in a statement.
As for the income statement, the company indicates that its revenues fell 12%, to 66.2 billion dirhams (16.063 billion euros), accompanied by an Ebitda of 12.5 billion dirhams (3.033 billion euros), 41% below the previous fiscal year.
In the passenger segment, Emirates carried 21.8 million travelers between April and September 2026, representing a year-on-year decline of 22%.
The group also closed the first half of the fiscal year with a cash position of 54.1 billion dirhams (13.127 billion euros) as of September 30, 2026, compared with the 59.6 billion dirhams (14.461 billion euros) recorded as of March 31, 2026.
In addition, it has completed the payment of the remaining 2.0 billion dirhams (485 million euros) of the dividend to its shareholder, Investment Corporation of Dubai (ICD), corresponding to the 3.5 billion dirhams (849 million euros) approved for the fiscal year 2025-26.
For the company’s chairman and chief executive officer, Ahmed bin Saeed Al Maktoum, these have been six “demanding” months in which the group’s business model “has passed the test”.
“Customer demand has remained steady and our cargo operations have made a solid contribution, which has allowed us to maintain healthy levels of revenue and cash even with global kerosene prices that have doubled compared with the same period of the previous year, with the consequent impact on our costs and on our profitability,” he added.