Wednesday, May 22, 2024

Emirates Announces Highest-Ever Half-Year Profit at over Rs. 770 Billion

Emirates Group’s recent financial report for the first half of the 2023-24 fiscal year showcases a remarkable success story. With a net profit of Dh10.1 billion, a 138 percent increase from the previous year, and an EBITDA of Dh20.6 billion, the group demonstrates robust operational profitability. This success is attributed to a 20 percent surge in group revenue, reaching Dh67.3 billion, driven by the increased global demand for air transport post-pandemic travel restrictions.

Maintaining a strong cash position of Dh42.7 billion as of September 30, 2023, the group effectively utilized its reserves to meet business requirements, including substantial debt repayments.

Notably, Emirates settled Dh9.2 billion of its Covid-19-related loans, showcasing financial resilience. The ability to disburse a Dh4.5 billion dividend to its owner further highlights the group’s financial strength and strategic fiscal management. Overall, the Emirates Group’s performance in the first half of the fiscal year reflects adaptability to changing market conditions and effective utilization of resources, positioning it as a leader in the aviation industry.

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