Emirates Group has reported a 66% drop in its first-half profit, as regional conflict and soaring fuel prices put pressure on the aviation industry.
The Dubai-based group recorded an after-tax profit of AED 3.6 billion (around $1 billion) during the first six months of the 2026-27 financial year. This compares with its performance during the same period last year.
The company said disruptions caused by the regional war and higher fuel expenses affected its financial results.
Regional Conflict Disrupts Air Travel
The conflict has created significant challenges for airlines operating across the Middle East. Intermittent airspace restrictions and closures have forced carriers to adjust routes and flight schedules.
Travel advisories have also changed passenger behaviour, affecting demand and travel patterns.
Emirates airline reported a 68% decline in its first-half profit before tax, which fell to AED 3.7 billion. Its revenue dropped 13% to AED 56.9 billion.
The airline carried 21.8 million passengers between April and September, representing a 22% decline compared with the previous year.
Rising Fuel Prices Add to Financial Pressure
Higher fuel prices further weakened the airline’s profitability. Emirates reported that fuel costs before hedging increased 60% compared with the same period last year.
Fuel remained its largest operating expense, accounting for 34% of total operating costs. However, gains from its fuel risk-management strategy helped limit the overall increase in fuel expenses.
Despite these pressures, cargo operations provided some support to the group’s revenue.
Emirates Maintains Operations Despite Challenges
By the end of September, Emirates had restored operations across 91% of its pre-disruption network. The airline continued serving destinations while managing changing regional conditions.
The wider group reported revenue of AED 66.2 billion, down 12% year-on-year. Its cash position stood at AED 54.1 billion at the end of September.
Group Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said the company remained positioned to manage volatility and higher fuel prices.
He added that Emirates was entering the second half of the financial year with measured optimism.
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