Recorded record revenues of AED 119.8 billion during its 2022/2023 financial year
Emirates Group posts highest annual profit ever at AED 10.9 billion
Emirates Group today released its financial report for the 2022/2023 financial year, announcing its most profitable year on record driven by strong demand across its business.
According to a press release received by "Emirates Today", a copy of it, the group achieved new record profits, in a complete shift from last year's losses. Both Emirates and dnata recorded significant increases in revenue, as air transport and travel operations expanded after almost all pandemic-related restrictions were removed around the world.
The report for the financial year ended 31 March 2023 showed that the Emirates Group achieved a record profit of AED 10.9 billion (USD 3.0 billion) compared to a loss of AED 3.8 billion (USD 1.0 billion) in the previous year, with Emirates accounting for the bulk of the profits after the airline's profit reached AED 10.6 billion.
Group revenues reached AED 119.8 billion (US$ 32.6 billion), up 81% from the previous year. The Group's cash balances stood at AED 42.5 billion (US$ 11.6 billion), the highest ever, up 65% from the previous year, mainly due to strong demand across all business and market segments.