Emirates airline announced a record full-year net profit, maintaining strong financial performance despite geopolitical disruptions. The airline's profit after tax increased to $5.4 billion for the period ending in March, rising from $5.2 billion last year, supported by higher passenger yields which offset a slight decrease in passenger numbers, totaling 53.2 million.
The ongoing Iran conflict, which commenced in late February, has caused significant airspace closures in the Middle East and a surge in jet fuel prices, posing substantial challenges to the aviation sector. Nonetheless, Emirates has been gradually restoring capacity, though it remains below pre-war levels.
The Emirates Group reported record revenues of $41 billion, representing a 3% increase year-over-year. The group plans to distribute dividends of $1 billion to its sole shareholder, the sovereign wealth fund ICD. According to Reuters, the company's resilient performance underscores its adaptability amid regional tensions and industry crisis conditions.
