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Emirates sees record AED 17.2bn profit for FY24

Emirates has witnessed record annual profit of AED 17.2 billion (USD 4.7 billion) for the 2023-2024 fiscal, up 63% from the year ago.

The latest figures from the airline were the best in its history, and were “driven by the voracious appetite for travel across customer segments,” the Emirates Group said in a statement.

Emirates carried 51.9 million passengers in the 2023-24, a 19% increase from the year ago, with seat capacity up by 21%.
Revenue for the airline rose 13% to 121.2 billion dirhams and airline capacity increased by 20%, “closing [the] gap to pre-pandemic levels,” the statement said.

“Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates.

“We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.”

Emirates Group, which comprises the airline and airline services and ground handling company dnata, saw its own best-ever financial performance with a record profit of 18.7 billion dirhams, a 71% jump from the previous year.

It also ended the financial year with its highest-ever cash balance of 47.1 billion dirhams, and declared a 4 billion dirham dividend for its owner, the Investment Corporation of Dubai.

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