Emirates Group reported a 66% year-over-year fall in profit after tax to AED 3.6 billion ($1 billion) for the first half of the 2026–2027 fiscal year, according to a company statement reported by Daily Sabah. The decline was driven by elevated fuel prices and operating challenges linked to regional conflict.
Emirates airline saw its half-year profit before tax fall 68% to AED 3.7 billion due to surging fuel expenses. Energy prices escalated following shipping disruptions in the Strait of Hormuz since conflict began in late February, while flight activity was disrupted by drone and missile strikes earlier in the year.
Wider group revenue declined by 12% to AED 66.2 billion, buffered by strong performance across cargo operations. Passenger traffic between April and September dropped 22% year-over-year to 21.8 million passengers amid airspace restrictions and travel advisories.
The group noted that intermittent regional airspace closures and shifting consumer travel flows tested operational agility, while characterising its half-year results as remarkable under war conditions. Cash reserves remained sufficient to support business obligations, including aircraft pre-delivery payments and debt servicing.
Emirates Chairperson and CEO Sheikh Ahmed bin Saeed al-Maktoum stated that the six-month period presented unprecedented challenges, adding that the group's business model and workforce successfully weathered the disruption.
Sources
- Daily Sabah · 2026-11-05
