Emirates Group half-year profit falls 66%
By the AFREEQUE newsroom, based on IOL
Emirates Group's half-year profit fell 66% to 3.6 billion United Arab Emirates dirhams, hit by the Middle East war and higher fuel costs. Passenger traffic declined 22% between April and September, while cargo supported the group's revenue, according to AFP.
Emirates Group, the parent company of Emirates airline, announced on Thursday a 66% fall in net profit in the first half of its 2026-2027 financial year, to 3.6 billion United Arab Emirates dirhams, or about $1 billion. The group attributed the decline to the war in the Middle East, higher fuel prices and disruptions to regional airspace, according to AFP.
Pre-tax profit at Emirates, the Dubai-based airline, fell 68% to 3.7 billion dirhams. Group revenue held up better, declining 12% to 66.2 billion dirhams, notably thanks to the performance of its cargo business.
Passenger traffic fell 22% between April and September, to 21.8 million travellers. Emirates Group said it had used its cash reserves to finance its needs, including down payments on aircraft and debt servicing, while maintaining its investments.
To reassure travellers, Emirates introduced travel insurance covering tickets without restrictions linked to government advisories, as well as free date changes and expanded refund terms. The group's chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, described the past six months as a challenging period for the company.
