Emirates Group stays profitable in first half despite Gulf conflict and fuel costs

The Emirates Group posted a profit before tax of AED 4.1 billion (US$1.1 billion) for the first six months of its 2026-27 financial year, despite airspace disruptions from the conflict in the Gulf region and higher fuel costs, according to a company statement published by Mindanao Times.

After income tax, the group's profit was AED 3.6 billion (US$1.0 billion), down 66 percent from the same period last year. Revenue fell 12 percent to AED 66.2 billion (US$18.0 billion). Cash on hand stood at AED 54.1 billion (US$14.7 billion) on September 30, down from AED 59.6 billion at the end of March.

Group chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said passenger demand and cargo operations helped keep revenue and cash levels steady, even though global jet fuel prices had doubled compared with a year earlier. He said the group was entering the second half with "measured optimism" while watching costs and geopolitical developments.

The airline, Emirates, carried 21.8 million passengers from April 1 to September 30, a 22 percent drop. Its average seat occupancy fell to 72.0 percent from 79.5 percent. By September 30, the airline had restored 91 percent of its network from before the disruption, serving 150 airports in 78 countries and territories.

Cargo did better. Emirates SkyCargo moved 1.2 million tonnes, down 1 percent, but its cargo revenue rose 52 percent. The company said the conflict had reduced the airfreight capacity available in the market and pushed shippers away from disrupted sea routes.

Emirates' own profit before tax was AED 3.7 billion (US$1.0 billion), compared with a record AED 11.4 billion a year earlier. Its sister company dnata, which provides airport, cargo and catering services, reported a profit before tax of AED 410 million (US$112 million), down 51 percent.

The group's workforce shrank by 2 percent to 128,237 employees. The company said Emirates and dnata are still hiring.

Emirates also said it had extended its Travel Rehearsals programme to 15 more stations, including the Philippines. The programme uses simulated airport and flight experiences to help young travellers with autism and their families prepare for trips.