After making a record profit of $3 billion in its fiscal year

Emirates Group is the world's most profitable

The Emirates Group has been ranked as the world's most profitable airline in the list of the world's largest commercial air transport groups, based on their financial statements for the 12-month period ending March 2023.

The report for the fiscal year ending on March 31, 2023, showed that the Emirates Group achieved record profits of three billion dollars, while Emirates Airlines recorded significant increases in revenues, as air transport and travel operations expanded, after almost all restrictions related to the Covid-19 pandemic were removed in various parts of the world.

According to the financial statements disclosed by the airlines on the list, which are based on revenues for the financial year ending in March 2023, the Emirates Group consolidated its gains among the world's most revenueful aviation groups.

According to the financial statements, the net profits of Turkish Airlines amounted to $ 2.79 billion, the profits of the American company «United» about $ 1.92 billion, while the American company «Delta Airlines» recorded a net profit of $ 1.89 billion.

In turn, American Airlines recorded a net profit of $ 1.77 billion during the fiscal year ending last March, Singapore Airlines about $ 1.6 billion, while the profits of the International Air Group, which owns British Airways, reached about $ 1.4 billion.

Ryanair, Europe's largest low-cost carrier, earned $1.4 billion, and Korean Air reported a profit of about $1.1 billion.

In the same context, profits achieved by the German company «Lufthansa» and Air France-KLM amounted to about one billion dollars each, respectively.

Southwest Airlines reported profits of about $658 million, compared to profits of $250 million for Japan Airlines.

The list does not include aviation groups specialized in air cargo and logistics, such as the global shipping and logistics company "UPS" and "FedEx", while some airlines on the list achieved slight profits during the fiscal year ending last March, while others recorded losses, as they did not reach profitability levels yet due to the Covid-19 pandemic.

Record revenue

Emirates Group's revenues reached $32.6 billion during the financial year ending March 2023, up 81% from the previous year. The Group's cash balances were the highest ever at $11.6 billion, up 65% from the previous year.

The Group and dnata boosted recruitment activities around the world during the year. As a result, the total number of employees in the Emirates Group increased by 20% to 102,379 employees, representing more than 160 nationalities.

During the 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.