Emirates Group, based in Dubai, has reported its highest-ever half-year financial result, with a net profit of AED10.1 billion in six months.
This surpasses the previous year’s figure of AED4.2 billion by 138 percent. The group also noted a significant improvement in operating profitability, with an EBITDA of AED20.6 billion compared to AED15.3 billion in the same period last year.
The increase in revenue, up 20 percent from last year, is attributed to strong global demand for air travel following the easing of pandemic restrictions. The group also maintains a solid cash position and has used its reserves to support business needs, including debt payments.
So far, Emirates has repaid AED9.2 billion of its Covid-19 related loans and paid AED4.5 billion in dividends to its owner.
