The Emirates Group announced record first-half results for the 2022-23 financial year on Thursday, November 10.
The airline posted a nett profit of AED4,2bn (R19,69bn), a turnaround of almost AED10bn (R46,88bn) from its AED5,7bn (R26,72bn) loss for the same period last year.
The Group also reported an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of AED15,3bn (R71,73bn), a marked improvement from AED5,6bn (R26,25bn) from the same period last year.
“The Group’s record performance for the first six months of 2022-23 is the result of forward planning, agile business response, and the efforts of our talented and committed workforce,” says Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and Group.
“For the coming months, we remain focused on restoring our operations to pre-pandemic levels and recruiting the right skills for our current and future requirements. We expect customer demand across our business divisions to remain strong in H2 2022-23. However, the horizon is not without headwinds, and we are keeping a close watch on inflationary costs and other macro-challenges such as the strong US dollar and the fiscal policies of major markets,” he concluded.
The Group expects to return to profitability at the close of the full financial year.
