Emirates Group’s Q1 2026 Profit Drops 66% To $1.1bn

The Emirates Group has reported a 66 per cent decline in profit before tax to AED 4.1 billion ($1.1 billion) for the first half of its 2026-27 financial year, as regional conflict, flight disruptions and rising aviation fuel prices weighed on its operations.

The Dubai-based aviation group, comprising Emirates Airline and ground handling and travel services provider dnata, disclosed that its profit after tax also fell by 66 per cent to AED 3.6 billion ($1 billion), while revenue declined by 12 per cent to AED 66.2 billion ($18 billion), compared with AED 75.4 billion ($20.6 billion) recorded in the corresponding period last year.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by 41 per cent to AED 12.5 billion ($3.4 billion), against AED 21.1 billion ($5.7 billion) in the previous year.

The Group attributed the weaker performance to the ongoing conflict in the Gulf region, which resulted in intermittent airspace restrictions, operational disruptions and changes in passenger travel patterns, alongside a significant increase in global jet fuel prices.

Despite the challenges, the Group maintained a cash position of AED 54.1 billion ($14.7 billion) as of September 30, 2026, compared with AED 59.6 billion ($16.2 billion) at the end of March.

The Chairman and Chief Executive of Emirates Airline and Group, Sheikh Ahmed bin Saeed Al Maktoum, said sustained customer demand and strong cargo operations had helped the business remain profitable despite the difficult operating environment.

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