The Emirates Group today released its 2025-26 Annual Report, achieving new record profit, revenue, and cash balance levels, despite a disruptive and challenging 12th month in its financial year. Emirates is the world’s most profitable airline in the 2025-26 reporting period. For the financial year ended 31 March 2026, the Emirates Group reported: record profit before tax (PBT) of AED 24.4 billion (US$ 6.6 billion), up 7% from last year, and a PBT margin of 16.2%
Key Takeaways:
- Record revenue of AED 150.5 billion (US$ 41.0 billion), up 3% over last year’s results
- Record level of cash assets at AED 59.6 billion (US$ 16.2 billion), up 12% from last year
- EBITDA of AED 41.1 billion (US$ 11.2 billion), reflecting its strong operating profitability.
- Emirates retains its place as the world’s most profitable airline, reporting: record profit before tax (PBT) of AED 22.8 billion (US$ 6.2 billion), up 7% from last year, and a PBT margin of 17.4%
- Record revenue of AED 130.9 billion (US$ 35.7 billion), an increase of 2% over last year
- Highest-ever level of cash assets at AED 54.9 billion (US$ 15.0 billion), 10% higher compared to 31 March 2025.
- Dnata delivered solid growth and performance across its business units, reporting.
- record profit before tax (PBT) of AED 1.6 billion (US$ 437 million), up 2% from last year, and a PBT margin of 6.8%
- Record revenue of AED 23.6 billion (US$ 6.4 billion), up 12%
- Strong cash assets of AED 4.7 billion (US$ 1.3 billion), up by 28%.
- The Group declares a dividend of AED 3.5 billion (US$ 1.0 billion) to its owner, the Investment Corporation of Dubai (ICD).
The UAE corporate tax rate applied to the Emirates Group increased from 9% to 15% this year, due to the adoption of Pillar Two tax rules in the UAE. After accounting for the tax charge, the Group’s profit after tax is AED 21.0 billion (US$ 5.7 billion), up 3% from 2024-25.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: “These outstanding results, despite significant challenges in the last month of our financial year, reaffirm the strength and resilience of the Emirates Group’s business model, which is rooted in safety, excellence, innovation, people and partnerships.
“For the first 11 months of 2025-26, the picture across the Group was very positive. Strong demand for our products and services was driving revenue, and we were achieving healthy margins thanks to our sustained investments in product, people, technology and brand. Month after month, we were surpassing our targets.