Dubai’s Emirates Group Achieves Record Annual Profits, Surpassing $5 Billion

Dubai’s Emirates Group has once again set a remarkable milestone, announcing annual profits of $5.1 billion on Monday, marking a remarkable 71 percent increase and setting a new record for the second consecutive year.

Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum expressed pride in the Group’s exceptional performance, stating, “The Emirates Group has once again raised the bar to deliver a new record performance.” As the operator of the world’s largest long-haul carrier, the state-owned Emirates Group rebounded strongly from the pandemic, reporting a record $3.0 billion in profits last year after returning to profitability.

“The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders,” Sheikh Ahmed added. This achievement comes after facing significant challenges due to the pandemic, with the Emirates Group experiencing a $1.1 billion loss in the post-pandemic 2021-2022 financial year and a $5.5 billion deficit in the COVID-ravaged 2020-2021, its first in more than three decades.