Emirates Reports $1 Billion Half-Year Profit as Passenger Numbers Fall

Emirates airline and SkyCargo reported US$1.0 billion in profit before tax for the six months through September 2026. The figure was 68% lower than the US$3.1 billion reported for the same period a year earlier.

Key details

• Emirates revenue, including other operating income, was US$15.5 billion, down 13% from US$17.9 billion.
• Emirates carried 21.8 million passengers, a 22% year-over-year decrease.
• At the end of September, Emirates said it operated 91% of its pre-disruption network, serving 150 airports in 78 countries and territories.
• Fuel costs before hedging gains rose 60%, despite a 12% reduction in fuel uplift.
• Emirates Group, which includes dnata, reported US$1.1 billion (AED 4.1 billion) in profit before tax, down 66% year over year. Group revenue fell 12% to US$18.0 billion from US$20.6 billion.

Emirates carried 21.8 million passengers in the half-year period, down 22% year over year.

Why it matters

Emirates’ passenger total and revenue show the scale of the airline’s contraction during the reporting period. Its operating network had reached 150 airports by the end of September, while fuel costs increased despite lower fuel uplift.