Emirates Airline announced today, Thursday, that the "2022-2023 financial year was the most profitable to date, recording annual profits of 10.9 billion dirhams, equating to three billion dollars, with a group revenue increase of 81% to 33 billion dollars." The Chairman and CEO, Sheikh Ahmed bin Saeed Al Maktoum, confirmed that "the company has fully recovered since demand was affected by the pandemic, and with the lifting of the last travel restrictions and the resulting surge in demand, we were ready to quickly expand our operations." He added, "We move forward in our current financial year 2023-2024 with a strong positive outlook, expecting continued profitability. We will continue to work towards our goals while monitoring inflation, rising fuel prices, and global political and economic developments."
The Emirates group recorded its highest profits in its history! The group achieved net profits of 3 billion dollars for the 2022-2023 financial year due to a significant rise in revenues by 81%, following increased demand for travel and tourism. The group also announced a dividend distribution of 1.2 billion dollars to its shareholders.
Additionally, Emirates Airline indicated that the "seat load factor increased to 79.5% compared to 58.6% in the previous financial year," noting that they "are now operating flights to 150 destinations instead of 140 last year." The company also announced earlier today, a commitment of 200 million dollars to fund research and development projects.
