Emirates Group Posts Record $5.7B Profit Despite War

Dubai-based Emirates Group announced record financial results for its fiscal year ending March 31, 2026, posting a profit after tax of $5.7 billion, a 3 percent increase from the previous year, despite severe disruptions from the US-Israel-Iran war that erupted on February 28.

The conglomerate, which includes Emirates airline, ground-handling firm dnata and other aviation services, reported revenue of $41 billion, up 3 percent, and cash assets exceeding $16 billion. Profit before tax reached approximately $6.6 billion. The group declared a dividend of about $1 billion to its owner, the Investment Corporation of Dubai, and approved a 20-week salary bonus for employees. These figures followed a period of robust performance in the first 11 months, driven by strong demand for passenger and cargo services.

The war triggered widespread chaos in Middle East aviation, including temporary airspace closures, over 2,800 drone and missile attacks on the United Arab Emirates, most intercepted by defenses, and surging jet fuel prices. Dubai International Airport, the world's busiest international hub, saw flight reductions and capacity cuts below pre-conflict levels. Emirates carried 53.2...