Emirates reported a record annual net profit on Thursday despite disruptions caused by the conflict involving Iran, as strong travel demand and higher ticket yields boosted earnings.
The Dubai-based carrier said profit after tax rose to US$5.4 billion in the 12 months ending March 31, up from US$5.2 billion a year earlier.
The airline said robust passenger demand across much of its global network helped offset a slight decline in passenger numbers, which fell to 53.2 million during the period.
Its parent company, the Emirates Group, posted record revenue of US$41 billion, an increase of 3 percent from the previous year.
The group said it would pay dividends totalling US$1 billion to its owner, Dubai’s sovereign wealth fund, the Investment Corporation of Dubai.
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The results come amid significant turbulence in the global aviation industry following the outbreak of conflict involving Iran and the United States and Israel earlier this year.
The war, which began on February 28, triggered temporary airspace closures across parts of the Middle East and drove jet fuel prices sharply higher, disrupting airline operations throughout the region.
Industry analysts have described the crisis as the aviation sector’s most severe disruption since the COVID-19 pandemic.
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Major Gulf carriers, including Emirates, were forced to suspend or reroute flights during periods of heightened regional tensions.
Although airlines have gradually restored services, many carriers continue to operate below pre-conflict capacity levels.
Fresh attacks targeting the United Arab Emirates earlier this week have also raised concerns over the stability of a fragile ceasefire that took effect last month.
Despite the disruptions, Emirates said strong premium travel demand and improved passenger yields supported profitability.
The airline remains one of the world’s largest long-haul carriers and a key pillar of Dubai’s economy and international connectivity.
The United Arab Emirates has positioned itself as a major global aviation hub linking Europe, Asia and Africa through its Gulf-based airlines and airports.
Emirates’ latest earnings underline the resilience of Gulf carriers despite mounting geopolitical uncertainty and rising operational costs linked to fuel prices and security risks.
Analysts say the airline’s ability to sustain profitability during a period of regional conflict reflects strong global demand for international travel and the strategic importance of Dubai as a transit hub.
However, they caution that continued instability in the Middle East could weigh on future growth if airspace disruptions and fuel price volatility persist.
