Emirates Soars to Record Profits with Expansive Cabin Upgrades

By Ivan PetrenkoMay 14, 2024 04:30 AMNews
Share:
White Emirates plane
White Emirates plane. Source: unsplash

Emirates Group, which includes both Emirates airline and the ground handling entity dnata, has reported a record profit of $5.1 billion for the fiscal year 2023-24, marking a 71% increase from the previous year. This financial achievement comes at a time when the airline has committed substantial investment in enhancing passenger experiences and expanding its services.

The chairman and chief executive officer of Emirates, Ahmed bin Saeed Al Maktoum, emphasized the airline's continual investment in its services and infrastructure as a key driver of its success. Over the past year, Emirates has dedicated AED8.8 billion ($2.4 billion) to various growth initiatives, including an extensive cabin refurbishment program. This program now plans to upgrade 191 aircraft, including the addition of premium economy seats, which are being well received by passengers despite a slight decrease in load factors in premium cabins from 72.6% to 69.4%.

The financial results showcased impressive gains with total revenues reaching AED137.3 billion ($37.4 billion). Emirates airline alone generated AED121.2 billion ($33 billion) in revenue and concluded the year with a net profit attributable to the owner of AED17.2 billion ($4.6 billion). The airline carried 51.9 million passengers, an increase of 19% over the previous year, and expanded its capacity by 21.4%.

Despite the fleet size remaining unchanged at 260 aircraft, Emirates is scheduled to welcome ten new Airbus A350-900 aircraft by the end of March 2025. This fleet stabilization is part of a broader strategy to enhance the quality of service and expand the reach of its network, particularly in premium services.

The data from Cirium also highlights the increased seat offerings in first, business, and premium economy classes over the year, indicating Emirates' focus on enhancing high-value travel options. The expansion into premium economy has reached 15 destinations, including key U.S. cities such as New York, San Francisco, Houston, and Los Angeles.

As Emirates continues to adapt and expand its offerings, the airline not only anticipates further growth but also strengthens its position as a leader in the global aviation industry, offering unmatched service quality and a commitment to customer satisfaction.

Top Articles
Can you use a cell phone on a plane: reasons for restrictions for cell phone owners and rules for a safe flight

Can you use a cell phone on a plane: reasons for restrictions for cell phone owners and rules for a safe flight

Jun 23, 2024 10:09 AM
Discover the charm of Edinburgh with one of the city's best hotels

Top 10 hotels in Edinburgh: from luxury to comfort

Jun 22, 2024 08:14 AM

An easy way to find your past flight information

Jun 21, 2024 22:52 PM

San Francisco hotels that won't go broke: 10 affordable options

Jun 20, 2024 08:05 AM
More News
Interior view of an airplane aisle with rows of seats

American Airlines Passenger Claims Seat Encroachment by Obese Neighbor

Jun 24, 2024 06:30 AM
Arc de Triomphe in Barcelona, ​​Spain, with palm trees and people

Barcelona to Ban Short-Term Tourist Rentals by 2028 in a Bid to Curb Housing Crisis

Jun 24, 2024 05:30 AM

Climate Activists' Airport Mishap in London

Jun 24, 2024 04:30 AM

Super-Size Your Farm Shop Experience with a Food Tour of South Devon

Jun 24, 2024 03:30 AM
Monk statue in front of a Thai temple with a white stupa

Thailand Welcomes Digital Nomads with Extended Visa Program

Jun 24, 2024 02:30 AM
person wearing red jacket and blue denim jeans pulling luggage bag while walking on pathway

SITA Credits Technology for Reduction in Mishandled Bags

Jun 24, 2024 01:30 AM
Heathrow Terminal 5, Longford, Hounslow, UK

United Airlines Celebrates 10 Years at Heathrow with Exclusive Lounge

Jun 24, 2024 00:30 AM
A souvenir shop filled with colorful folk art items

New Rules for Souvenirs in Barcelona – What Souvenirs You Won’t See Anymore?

Jun 24, 2024 00:05 AM
A person wearing red sneakers relaxes on a train, with their feet propped up on a suitcase next to a window showing blurred scenery

What European Train Operators' Missed Opportunity Means for Travelers

Jun 23, 2024 23:30 PM

Delta Air Lines Airbus A321neo Diverts to Boston Logan Due to Engine Issues

Jun 23, 2024 22:30 PM

Explore Fermanagh Lakelands with Summer Translink Service

Jun 23, 2024 21:30 PM
yellow and red DHL plane on airport during daytime

DHL Considers Short-Haul Widebody Overnight Flights for Fleet Renewal in Europe

Jun 23, 2024 20:30 PM
A green Stagecoach bus passing under a graffiti-covered bridge at sunset

Stagecoach East Enhances Travel Experience with PlusBus E-Ticket Trial

Jun 23, 2024 19:30 PM
Airbus A220 prepares to land

Delta One Passengers to Receive Luxury Amenity Kits by Missoni

Jun 23, 2024 18:30 PM
Two modern trains stationed at a railway platform

Upcoming Theme Park Promises Bigger Railway Station and Better Travel Experience

Jun 23, 2024 17:36 PM

Delta Air Lines Flight Returns to West Palm Beach After Engine Fire

Jun 23, 2024 16:30 PM

Zenobē and Big Bus Tours Introduce Electric Buses for London Sightseeing

Jun 23, 2024 15:30 PM
Ship against the backdrop of a golden sunset

Return of Cruise Liners Victory I and Victory II to the Great Lakes in 2025

Jun 23, 2024 14:30 PM
Worker in high-visibility vest and yellow boots standing inside a large railway tunnel under maintenance

Severn Tunnel Closure: Major Impact on Travelers Between South Wales and Bristol

Jun 23, 2024 13:32 PM
Eiffel Tower in Paris at sunset

France's Travel Boom: Record-Breaking Year for Tourism

Jun 23, 2024 12:34 PM
Graffiti on a wall that reads "LET'S STRIKE" in black letters

Liverpool Travelers Face Disruptions as Bus Drivers Plan Summer Strikes

Jun 23, 2024 11:35 AM
Aer Lingus airplane on the runway

Aer Lingus Cancels Flights Amid Industrial Action

Jun 23, 2024 10:32 AM

Huge Discounts on Travel for Young Adults in Spain

Jun 23, 2024 09:30 AM

Air France Unveils New Luxurious Lounge at LAX

Jun 23, 2024 08:34 AM
A vintage rotary phone, a theatrical mask, a golden skull, a bouquet of red roses, a candle, and an ornate journal arranged on a dark wooden table

Stirling Hosts 13th Bloody Scotland Festival for Crime Fiction Enthusiasts

Jun 23, 2024 07:30 AM
Delta Air Lines airplane in flight

Delta Launches New Nonstop Flights from Orlando to London Heathrow This Winter

Jun 23, 2024 06:32 AM