As Emirates Airlines declared record-breaking profits, it offered its staff a bonus equal to 20 weeks of wages. As part of their May paycheck, team members will get a bonus.
The Group achieved its best-ever financial performance, with a 71% rise in earnings to AED 18.7 billion (US$ 5.1 billion). Group sales rose 15% to AED 137.3 billion (US$ 37.4 billion) and cash balance reached its highest ever level of AED 47.1 billion (US$ 12.8 billion).
With record revenues of AED 137.30 billion and record profits of AED 18.7 billion, in fiscal year 2023/2024, Emirates Airlines is celebrating with the bonus.
Emirate and Dnata had substantial growth in sales and profit over the last year, leading to a 10% rise in the group’s overall employment to 112,406 – their greatest workforce to date. Staff members represent more than 170 different nationalities and work in 84 different countries.
In 2023-24, Emirates and dnata achieved considerable profit and revenue improvements as the Group expanded globally to satisfy consumer demand. The group posted its biggest cash balance ever, Dh47.1 billion, up 11% from last year.
In an email by Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, expressed gratitude to the Emirates Group employees for their ‘heroic efforts.’ He commended their dedication “for powering our collective ambitions and for achieving them, you deserve every dirham of the 20-week profit share,” he wrote.
As a bonus for reaching yet another record-setting achievement last year, Emirates awarded its staff the equivalent of 24 weeks’ income.
“The business outlook is positive with projections of strong, sustained demand for international air transport and travel,” Sheikh Ahmed in a report said.
In August, Emirates will get its first of 10 A350s. Mid-2024 will bring five new 777 freighters to the group’s cargo operations. Email states the group will employ talent.
The Emirates Group expects high air travel demand in the coming months. The Group can capitalise on opportunities and maintain its growth with its strong business model and responsive attitude to problems.
Qatar Airways’ Ai cabin has greater technological advancements than Emirates’, while both airlines are competing head-to-head.
