Dubai-based Emirates Group reported a 66% decline in first-half profit after tax to AED 3.6 billion ($1 billion) amid high fuel costs and regional conflict. Group revenue fell 12% to AED 66.2 billion, supported by resilient cargo performance despite a 22% drop in passenger numbers. The group maintained robust cash reserves to service debt and fund pre-delivery aircraft payments.
The Emirates Group reported a pre-tax profit of AED 4.1 billion ($1.1 billion) for the first six months of the 2026-27 financial year, with after-tax profit falling 66% to AED 3.6 billion. Group revenue declined 12% to AED 66.2 billion as operations navigated regional conflict, airspace disruptions, and elevated jet fuel prices. The group retained cash reserves of AED 54.1 billion after debt servicing, aircraft delivery pre-payments, and dividend distributions.
Emirates President Sir Tim Clark has expressed frustration over prolonged Boeing 777X delivery delays and engine maintenance bottlenecks affecting the carrier's widebody fleet. Clark confirmed Emirates will not take early-build 777-9 aircraft and reiterated his call for Airbus to develop a modernised A380. He also revealed that seven of the airline's A380s remain grounded due to engine overhaul turnaround times exceeding 350 days.
Emirates will operate 14 additional flights between Dubai and Durban across December 2026 and January 2027 to accommodate festive travel demand. The temporary second daily service will be operated by a three-class Boeing 777 across two separate weeks. The carrier has also rolled out flexible booking conditions, including date-change waivers and reduced refund fees.
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