Emirates transported 26.9 million passengers and 1.2 million tonnes of cargo during the first half of the 2024-25 fiscal year.

An analyst notes that Emirates is strategically poised to sustain its competitive edge within the GCC and globally, thanks to its robust cash reserves of $11 billion and the introduction of new aircraft that will support the airline's organic growth in the coming years. Saj Ahmad, the chief analyst at London-based StrategicAero Research, highlighted that Emirates' first-half performance underscores the inherent demand for travel, which has been amplified by the airline's expanded route network and enhanced freight operations.

"The world's leading airline has continued to invest heavily across its extensive A380 and 777 fleets, particularly with the launch of new Premium Economy products—a unique offering in the GCC not provided by any other GCC airline. This competitive edge has enabled Emirates to serve nearly 27 million passengers while maintaining a robust 80% passenger seat factor," Ahmad told Khaleej Times.

Emirates reported a Dh8.7 billion after-tax profit for the first half of the 2024-25 fiscal year, with pre-tax profits reaching a record Dh9.7 billion compared to Dh9.5 billion in the same period the previous year. The airline's revenue, inclusive of other operating income, increased by 5% to Dh62.2 billion from Dh59.5 billion in the same period last year, driven by sustained strong demand for travel and air cargo across markets and the airline's ability to deliver exceptional value and services to customers.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, stated that the group is investing billions of dollars to introduce new products and services to the market.

"We anticipate strong customer demand for the remainder of 2024-25, and we look forward to boosting our capacity to increase revenues as new aircraft join our fleet and new facilities come online at dnata. The outlook is promising, but we are not complacent. We will remain agile in deploying our capacity and resources in a dynamic market," Sheikh Ahmed said.

Emirates continued to expand its network and connectivity options through its Dubai hub, increasing scheduled flights to eight cities—Amsterdam, Cebu, Clark, Luanda, Lyon, Madrid, Manila, and Singapore—during the first half of 2024-25. The airline also enhanced connectivity for customers by entering into new agreements with seven partners—AirPeace, Avianca, Blade, ITA Airways, Iceland Air, SNCF Railway, and Viva Aerobus.

With a fleet of 259 aircraft, Emirates expanded its passenger and cargo network to 148 airports in 80 countries by September 30. The airline carried 26.9 million passengers and 1.2 million tonnes of cargo during the first half of 2024-25.

Under its $4 billion retrofit program, Emirates introduced eight aircraft—three A380s and five Boeing 777s with fully refreshed interiors—between April 1 and September 30. This initiative allowed Emirates to expedite the deployment of its latest cabin products, including its newest 4-class Boeing 777 featuring a new 1-2-1 layout of lie-flat seats with personal minibars in Business Class and the popular Emirates Premium Economy.

The first retrofitted Emirates 777 was deployed to Geneva in August, followed by Tokyo Haneda and Brussels. Over the next six months, as more aircraft undergo retrofitting, Emirates plans to introduce its refurbished 777s on 10 additional routes—Riyadh, Zurich, Kuwait, Damman, Chicago, Boston, Dallas Fort Worth, Seattle, Newark-Athens, and Miami-Bogota.

"By the end of the year, Emirates' latest A380 and Boeing 777 inflight experiences, including Premium Economy, will be available to customers on over 30 routes," the airline stated.

Saj Ahmad noted that the imminent arrival of Emirates' first new A350-900 aircraft will open up new market opportunities and better serve network points where the A380 is not required. This will support the airline's organic growth as it awaits the arrival of the 777X fleet, which will eventually replace the current 777-300ER and 777-200LR fleets.

"With a strong cash balance of over $11 billion, Emirates is well-positioned to maintain its strategic advantage both in the GCC and beyond. Coupled with its expanding cooperation with flydubai, the connectivity provided by the two carriers enhances travel options for passengers through Dubai International Airport, which is on track for another record-breaking year for passenger traffic in 2024," Ahmad concluded.

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