Emirates Group profit soars to new record
The Emirates Group reported 2022-23 as its most profitable year ever on the back of strong demand across its businesses. Emirates achieved new record profits, a complete turnaround from its loss position last year.
Both Emirates and dnata saw significant revenue increases in 2022-23 as the group expanded its air transport and travel-related operations following the removal of nearly all pandemic-related restrictions around the world.
For the financial year ended March 31, 2023, the Emirates Group posted a record profit of Dh10.9 billion ($3 billion) compared with an Dh3.8 billion ($1 billion) loss for last year.
The group’s revenue was Dh119.8 billion ($32.6 billion), an increase of 81 per cent over last year’s results. The group’s cash balance was Dh42.5 billion ($11.6 billion), the highest ever reported, up 65 per cent from last year mainly due to strong demand across its core business divisions and markets, the group said.
* Read the full report: https://tinyurl.com/ykyhac7r