The Emirates Group has awarded its employees with bonus equivalent to 20 weeks’ salary, to be deposited into their May salaries. The bonus comes as a celebration from the group for its record performance in the fiscal year 2023/2024, during which it achieved its highest-ever profitability, recording record profits of Dh18.7 billion and revenues of Dh137.30 billion.
The total number of employees in the group rose by 10% to 112406- their largest ever employee workforce to date as Emirate and Dnata saw significant profit and revenue increases in the last year.
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The Group ramped up investments in people development, rolling out a comprehensive programme of learning and training options for its workforce in partnership with top universities and key industry partners. A Gender Balance Council was established to champion and promote gender equality within the Group.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and group said: “We enter our 2024-25 financial year on strong foundations for continued growth. Emirates will receive delivery of 10 new A350 aircraft in 2024-25, adding to our fleet mix and supporting the next phase of its network growth. Dnata will continue to leverage synergies and scale across its business divisions to grow its footprint and capabilities.
“In tandem, we are investing resources to minimise our environmental impact, develop our people, look after our customers and the communities we serve.”
Record profit
The company’s revenue was Dh137.3 billion, an increase of 15% over last year’s results. The group’s cash balance was Dh47.1 billion, the highest ever reported, up 11% from last year.
Combined Group profits for the last 2 years, at Dh29.6 billion, surpass pandemic losses of Dh25.9 billion during 2020-2022.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: “The Emirates Group saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.
“Both Emirates and Dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”
Sheikh Ahmed added: “The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders.”