The Emirates Group today released its 2022-23 Annual Report, reporting its most profitable year ever on the back of strong demand across its businesses.
Emirates achieved new record profits, a complete turnaround from its loss position last year.
Group reports annual profit of AED 10.9 billion (US$ 3.0 billion), a new profit and revenue record and a significant turnaround from last year
Group revenue of AED 119.8 billion (US$ 32.6 billion) increased by 81% with strong customer demand worldwide with almost all travel restrictions removed.
Ends year with highest-ever cash balance of AED 42.5 billion (US$ 11.6 billion).
The Group has declared a dividend of AED 4.5 billion (US$ 1.2 billion) to its owner ICD, Investment Corporation of Dubai.
Repays AED 3.0 billion (US$ 817 million) of debt raised during COVID-19 crisis, partly ahead of maturity.
Chairman credits the Group’s record performance and ongoing success to HH Sheikh Mohammed bin Rashid Al Maktoum’s leadership and Dubai’s progressive policies.
Emirates reports its most profitable year ever with a profit of AED 10.6 billion (US$ 2.9 billion) compared with AED 3.9 billion (US$ 1.1 billion) loss in the previous year
Revenue up 81% to AED 107.4 billion (US$ 29.3 billion), as airline restored its global network and reinstated more passenger flights.
Airline capacity increased by 32% to 48.2 billion ATKMs, with two new 777 freighter aircraft added to its fleet.
The full 2022-23 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at: www.theemiratesgroup.com/annualreport
