[Edaily Kang Gyeong-rok Travel Reporter] Despite facing the dual challenges of escalating geopolitical risks in the Middle East and rising jet fuel prices, Emirates Airlines maintained its profit trend in the first half of the year. The airline is credited with demonstrating a stable financial structure by offsetting disruptions in passenger operations with strong performance in global cargo transportation.
Emirates Group, the parent company of Emirates Airlines, announced on the 5th that it recorded revenue of $18 billion (approximately 24.8 trillion won) and net income of $1 billion (approximately 1.38 trillion won) for the first half (April–September) of the 2026–2027 fiscal year.

Although revenue fell 12% and net income dropped 66% compared to the same period last year, the company maintained a net profit of $1 billion and secured cash reserves of $14.7 billion despite external headwinds such as oil price volatility and airspace restrictions.
Emirates, the Group’s airline division, posted a net profit of $903 million (approximately 1.24 trillion won) and revenue of $15.5 billion for the first half of the year. While route diversions due to airspace restrictions in the Middle East and rising jet fuel prices put pressure on profitability, demand for premium cabins and strong performance in the cargo business helped offset these challenges.

In particular, the improved performance of “Emirates SkyCargo,” the company’s cargo division, stood out. Although cargo volume fell by 1% year-over-year to 1.2 million metric tons, cargo revenue surged by 52%. This was driven by a surge in demand for air freight as an alternative to maritime transport—disrupted by the Red Sea crisis—as well as higher freight rates resulting from supply shortages caused by airspace restrictions. The company significantly expanded its logistics network by introducing five new Boeing 777 freighters and launching new routes to Almaty and Zhengzhou.
Passenger transport is showing increased resilience with Dubai as its hub. As of the end of September, the flight network had recovered to 150 airports in 78 countries, representing 91% of pre-conflict levels. In the first half of the year, the airline carried 21.8 million passengers and recorded an average load factor of 72.0%.
Emirates pursued aggressive investments despite deteriorating financial performance. In the first half of the year, the airline took delivery of nine new A350 aircraft and completed cabin retrofits on nine A380s and three Boeing 777s. The airline expanded its fleet of aircraft equipped with ultra-high-speed “Starlink” in-flight Wi-Fi to 57, and began construction on a large-scale maintenance facility valued at $5.1 billion. Dnata, the ground handling division, also supported the company’s performance by generating $3.0 billion in revenue and $84 million in net income.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of the Emirates Group, stated, “Despite unprecedented regional challenges, we have demonstrated our resilience through our unique business model and the robust performance of our cargo operations,” adding, “We will continue to invest in aircraft and services to secure future growth drivers.”