Emirates group sets a new record for 1H 2023-2024: Emirates Group recorded an all-time high six-month bottomline of AED 10.1 bn in 1H 2023-2024, up 138% y-o-y, according to its earnings release. Topline figures for the same period also jumped 19.5% y-o-y to AED 20.6 bn on the back of increased global demand for air transport. The company’s financial year begins in April.

Driving growth during 1H: The company boosted connectivity for customers by entering codeshare and interline agreements with eight airlines in 1H 2023-2024. Capacity during the period also increased 25% y-o-y to 28.5 bn available tonne km (ATKM) due to the increased flights, and passenger traffic rose 35% y-o-y. Its cargo subsidiary, Emirates Skycargo, handled some 1 mn tonnes of cargo during 1H 2023, an 11% y-o-y increase.

Looking ahead: The company expects strong customer demand to persist across business divisions, though it cites headwinds like rising fuel prices, strengthening of the USD, inflationary costs, and geo-politics, as potential risks, Chairman and CEO Sheikh Ahmed bin Saeed Al

Maktoum bin Saeed added.

ALSO-Emirates cargo and ground handling subsidiary Dnatarecorded a bottomline of AED 709 mn in 1H 2023-2024, up 200% y-o-y, as it ramped up operations in cargo, ground handling, catering and retail and travel service businesses, according to the earnings release. The number of aircraft turns handled by dnata increased 11% y-o-y to 384k, while the volume of cargo handled fell 5% y-o-y to 1.3 mn tonnes of cargo, reflecting the continued softening of the global air freight market.

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