Emirates Group releases 2023-2024 results: check out investments in sustainability and passenger experience

The Emirates Group released its 2023-2024 annual report on Monday, announcing its best financial results ever. Both Emirates and dnata – an Emirati airport services provider – noted significant profit and revenue increases during the period.

The strong results come as the group continues expanding its operations globally to meet strong customer demand for its products and services. For the financial year ended March 31, 2024, it posted a record profit of $5.1 billion, up 71% compared to last year’s numbers.

The group’s revenue noted an increase of 15% over last year’s results, reaching $37.4 billion. In addition, the group’s cash balance has been a record $12.8 billion, up 11% from last year. The combined group profits for the last couple of years surpass pandemic losses.

Emirates Group annual report: People development

The Emirates Group is handling several major ongoing projects, including a multi-billion dollar aircraft fleet and cabin renewal programme; better catering, cargo and ground handling capabilities; advanced tech; and expanded training and people development programmes.

In 2023-2024, the group’s workforce expanded by 10% to 112,406 employees, its largest size ever, as Emirates and dnata continued the rigorous hiring activity across the globe to support its expanding operations and bolster its future capabilities.

The Emirates Group also ramped up investments in people development, releasing a comprehensive programme for its employees in partnership with top universities and industry partners. A Gender Balance Council has also been established to promote gender equality.

Emirates Group annual results: Focus on sustainability

In terms of sustainability initiatives, the Emirates Group made significant strides during 2023-2024, implementing a number of essential initiatives focused on the fragile environment, its people, customers and communities.

Emirates signed supply agreements to uplift sustainable aviation fuel (SAF) at its Dubai hub for the first time, in addition to Singapore and the Netherlands. It operated the first A380 demonstration flight using 100% SAF in one engine, collecting necessary data.

dnata, on the other hand, continued to invest and induct more electric and hybrid vehicles into its global fleet of ground support equipment (GSE). It also converted and refurbished diesel-supported equipment in Italy to run on hydrogenated vegetable oil and electricity.

Environmental topics have been high on the agenda during 2023-2024 as the UAE hosted the biggest annual conference for climate action, the COP28 Summit, at Expo City Dubai. The event highlighted the pressing need to transition away from fossil fuels.