UAE’s Emirates airline profit hits $4.7b in ’23

UAE’s Emirates Airline, the long-haul carrier reported a record profit of $4.7 billion in 2023, as per the airline’s statement on Monday, cited by Associated Press (AP).

This success comes as the airline rose to new heights following the tumultuous period of the COVID-19 pandemic, which had previously disrupted its operations.

The state-owned airline disclosed revenues of $33 billion, a significant increase from the $29.3 billion recorded the previous year. Notably, the airline’s profit for the year prior stood at $2.9 billion.

In terms of passenger traffic, Emirates carried 51.9 million travellers during the 2023 financial year, a notable rise from the 43.6 million passengers transported the year before.

Ahmed bin Saeed Al Maktoum, the chairman and CEO of Emirates, attributed the remarkable performance to the sustained high demand for air travel and related services worldwide. He emphasised the company’s agility in meeting customer needs swiftly, leading to exceptional outcomes.

Al Maktoum further highlighted Emirates’ strategic investments over the years in enhancing its products and services.  Moreover, the results achieved by Emirates mirror those of its hub, Dubai International Airport, which also witnessed a resurgence.