Emirates Group concludes financial year with highest ever cash balances of AED 42.5 billion
The Emirates Group concluded its 2022/2023 financial year with its highest ever cash balances of AED 42.5 billion (US$ 11.6 billion), up 65% from the previous year,
mainly due to strong demand across all business divisions and markets.
During the 2022/2023 financial year, the Emirates Group invested a total of AED 7.2 billion ($2.0 billion) in new aircraft, facilities, equipment, companies and the latest
technologies to prepare the business for future growth. Its multi-billion dollar commitments include a massive cabin modernization programme, an order for five new 5 freighters, the construction of a new pilot training centre, the opening of the world's largest helicopter farm in Dubai in partnership with Crop One, new training aircraft for Emirates Flight Training Academy
students, dnata's acquisition of 777% of shares to acquire
full ownership of ground handling operations in Brazil, and the construction of a new
state-of-the-art cargo facility in Erbil, Iraq.