Emirates Airline has just revealed its results for the 2025-2026 financial year (which runs April 1, 2025, through March 31, 2026). Not only has the airline achieved its highest profit ever, but the Dubai-based carrier is the world’s most profitable airline for a second year in a row, once again beating Delta.
To look at some of the key figures of Emirates’ performance compared to the previous year:
- Revenue increased by 2%, to $35.7 billion
- Passenger and cargo capacity increased by 1%, to 60.6 billion ATKMs
- Passengers carried was down by 1%, to 53.2 million
- Average load factor decreased by 0.5%, to 78.4%
- Passenger yield increased by 4%, to 10.4 cents per revenue passenger kilometer
- Operating costs increased by 2%, with the carrier’s fuel bill decreasing by 7%
- Emirates Group’s total workforce was increased by 8%, to 130,919 employees
Emirates is ending the financial year with its highest ever cash balance of $15.0 billion, up 3% from last year. Furthermore, Emirates Group has declared a dividend of $1 billion to its owner, Investment Corporation of Dubai.
“For the first 11 months of 2025-26, the picture across the Group was very positive. Strong demand for our products and services was driving revenue, and we were achieving healthy margins thanks to our sustained investments in product, people, technology and brand. Month after month, we were surpassing our targets.”
“On 28 February, military activity massively disrupted global commercial air traffic in the Gulf region, including in the UAE. Emirates and dnata quickly mobilised to support our people and affected customers, protect our assets, and ensure business continuity.”
“We are fortunate to be based in Dubai, where years of infrastructure investments and a cohesive aviation ecosystem has enabled the government to quickly secure safe corridors for commercial flights. Emirates and dnata have since gradually restored operations at DXB. Although we are still operating at a lower passenger capacity than pre-disruption, cargo operations have ramped up to support the movement of essential goods into and through the UAE.”
Yes, Emirates is now more profitable than Delta
Perhaps the most interesting thing about Emirates’ financial results for the past couple of years is that the airline has overtaken Delta as the most profitable in the world. For example, this past year Delta generated a $5 billion profit, so Emirates is about 25% more profitable.
A great solo travel tip spotted this week on One Mile at a Time.
