Emirates recorded a profit before tax of AED 3.7 billion (US$1.0 billion) for the six months to September 2026, down 68% year on year, as regional airspace restrictions disrupted operations and jet-fuel prices doubled. Revenue fell 13% to AED 56.9 billion. The Dubai-based airline carried 21.8 million passengers, 22% fewer than in the same period a year earlier.
Fuel remained Emirates’ largest operating-cost component, at 34%. Before hedging, fuel costs rose 60%; AED 7.1 billion in fuel-risk-management gains limited the net increase to 13%. Cargo revenue climbed 52%, although cargo tonnage declined 1%.
Available seat kilometres fell 17%. By 30 September, Emirates had restored operations to 91% of its pre-disruption network, serving 150 airports across 78 countries and territories. The airline cited airspace restrictions and closures, along with government travel advisories, as factors affecting operations and travel demand.
The result compares with a record AED 11.4 billion profit before tax in the previous year’s half. Emirates Group, which includes the airline, posted half-year profit before tax of AED 4.1 billion, down 66%.