EMIRATES-

Emirates Group’s net income rose 13% y-o-y to AED 10.6 bn in 1H 2025, reporting what it says is record-breaking half-year bottom line for the fourth consecutive year, according to an earnings release published last week. The group’s top line rose 4% y-o-y to AED 75.4 bn for the same period. The group’s FY starts in March.

By the segment:

#1- Dubai’s flagship carrier: The group’s airlines, Emirates, saw its bottom line rise 13% y-o-y to AED 9.9 bn. The airline’s top line surged 6% y-o-y to AED 65.6 bn due to continuous travel demand in all markets, coupled with customers favoring Emirates’ offerings — namely, its premium cabins, management said.

In cargo terms: Emirates’ air freight arm, Emirates SkyCargo, saw deliveries rise 4% y-o-y to some 1.3 mn tons in 1H 2025, which coincided with the addition of three new Boeing 777 freighters. Meanwhile, cargo yields fell by 6% as demand softened in some markets, partly due to tariff concerns.

#2- dnata sees record revenues: The group’s air services subsidiary dnata saw its net income rise 22% y-o-y, recording AED 697 mn, while its revenues also increased 13% y-o-y to AED 11.7 bn, the earnings release said. The surge came on the back of revenue growth across dnata’s three divisions, with ground handling services revenues making the biggest contribution with a 15.5% y-o-y rise, reaching AED 5.5 bn.

The latest from Emirates: The flag carrier tapped HSBC to finance the uptake of six new Airbus A350-900 aircraft last week. The airline has some 65 Airbus A350-900 carriers in total on order — with deliveries beginning last year and scheduled to run through until 2028.

TURKISH AIRLINES-

Turkish Airlines’ bottom line took a 10.7% y-o-y dip to record USD 1.4 bn during 3Q 2025, which the firm attributed to the accounting impact of taxes and a weakening USD, according to an earnings release (pdf). The Turkish flagship carrier’s top line reported a 4.9% y-o-y increase, reaching about USD 7 bn, largely driven by improvements in revenues from the passengers’ segment.

On a 9M basis, the carrier’s top line grew 4.5% y-o-y to USD 17.8 bn, while its net income dropped some 25.3% to record USD 2 bn.

By segment: Revenues from the airline cargo segment dropped 5.4% y-o-y to USD 2.4 bn during 9M 2025, which the company attributed to global trade disruptions and competitive sea freight rates. Meanwhile, passenger revenue hit USD 14.8 bn, a 5.6% y-o-y increase, largely due to robust growth in volumes. Technical services revenue also went up by 18.6% to hit USD 479 mn during the same period.

Zooming in on cargo: Despite the revenue drop in the segment, cargo’s physical volume of rose 5.6% y-o-y to 1.6 mn tons in 9M. The company also maintained its strong competitive position in the global air cargo market, remaining third globally with 6.1% market share. As of September 2025, Turkish Cargo operated a vast network, flying to 134 countries and 375 destinations with a fleet of 28 dedicated freighters.

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