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Emirates Group announces financial results for the year 2022-2023

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Ο Όμιλ&omicron ;ς Emirates ανακοινoνει τα οικονομικα&pi ;οτελεσματα του ετους 2022-2023

The Group recorded a record annual revenue of AED 10.9 billion (US$3 billion) and a significant recovery compared to the previous financial year.

  • The Group recorded revenues of AED 119.8 billion (US$32.6 billion), an increase of 81% due to strong growth in passenger demand for global travel, following the lifting of almost all travel restrictions.
  • The financial year closes with a record cash balance of AED 42.5 billion (US$11.6 billion).
  • The Group has announced a dividend payment of 4.5 AED billion (US$1.2 billion) to the investment company ICD (Investment Corporation of Dubai).
  • Debt repayment of AED 3.0 billion (US$817 million) of debt incurred during duration of the pandemic.
  • The President attributes the performance – record of the Group and its successful strategy under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, as well as the progressive policies of Dubai.

Emirates records the most profitable year in its history, with profits of AED 10.6 billion (US$2.9 billion).

  • Revenue rose 81% to AED 107.4 billion (US$29.3 billion) as the airline rebuilt its global network and brought back more passenger flights.
  • The airline's capacity The company's fleet grew by 32% to 48.2 billion Available Ton Kilometers (ATKM), with two new 777 aircraft added to its fleet.

The dnata< /strong> records profits of AED 331 million (US$90 million), a steady increase compared to last year's profits of AED 110 million (US$30 million).

  • Revenue increased 74% to AED 14.9 billion (US$4.1 billion), reflecting the continued recovery from the pandemic across all segments both in the UAE and globally.
  • Expansion of operations in Zanzibar, Tanzania, new freight operations in Germany and Canada and acquisition of full ownership of ground handling services in Brazil.

Cyprus, 12 May 2023< /strong> – Emirates Group's financial results for the year 2022-23 reflect the most profitable year in its history, driven by strong demand.

Emirates achieves new record profitability and a full recovery from the losses it had posted the previous year.

Both Emirates and dnata saw significant revenue increases in the 2022-23 financial year as the Group strengthened its aviation and related activities with travel, following the lifting of almost all pandemic-related restrictions worldwide.

Source: eurokerdos.cyprustimes.com

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