Karachi: 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 airline maintained its position as the world’s most profitable airline, reporting a record PBT of AED 22.8 billion (US$ 6.2 billion), up 7% from last year, with a PBT margin of 17.4%. The airline also achieved record revenue of AED 130.9 billion (US$ 35.7 billion), representing a 2% increase year-on-year, while its cash assets climbed to their highest-ever level of AED 54.9 billion (US$ 15.0 billion), 10% higher than on 31 March 2025.
The Emirates Group delivered a record-breaking financial performance for the year ended 31 March 2026, reporting a profit before tax (PBT) of AED 24.4 billion (US$ 6.6 billion), marking a 7% increase compared to last year and achieving a PBT margin of 16.2%. The Group also posted record revenue of AED 150.5 billion (US$ 41.0 billion), up 3% year-on-year, while its cash assets reached an all-time high of AED 59.6 billion (US$ 16.2 billion), reflecting a 12% increase over the previous year. Additionally, the Group recorded an EBITDA of AED 41.1 billion (US$ 11.2 billion), underscoring its strong operational profitability.
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.
“On 28 February, military activity massively disrupted global commercial air traffic in the Gulf region, including in the UAE. Emirates and dnata quickly mobilised to support our people and affected customers, protect our assets, and ensure business continuity.
“We are fortunate to be based in Dubai, where years of infrastructure investments and a cohesive aviation ecosystem has enabled the government to quickly secure safe corridors for commercial flights. Emirates and dnata have since gradually restored operations at DXB. Although we are still operating at a lower passenger capacity than pre-disruption, cargo operations have ramped up to support the movement of essential goods into and through the UAE.”