Dubai-based airline Emirates has reported a 68% decline in profit during the first half of the 2026–2027 financial year compared with the same period last year.
According to financial results covering April 1 to September 30, 2026, Emirates’ pre-tax profit fell to $1 billion, while revenue declined by 13% to $15.5 billion. Emirates Group’s total pre-tax profit decreased by 66% to $1.1 billion.
Emirates carried 21.8 million passengers during the period, representing a 22% decline compared with the same period last year. The airline’s average passenger load factor also fell from 79.5% to 72%.
The deterioration in financial performance was driven by airspace restrictions resulting from conflicts in the Persian Gulf region and rising jet fuel costs. Despite a 12% reduction in fuel consumption, fuel expenses increased by 60% before hedging.
As of September 30, Emirates had restored 91% of its pre-conflict route network, serving 150 airports across 78 countries and territories.
Meanwhile, the airline’s cargo division, Emirates SkyCargo, transported 1.2 million tonnes of freight during the same period, recording a 52% increase in revenue.
