Announcements
Emirates Group reports best-ever financial performance with record profit of AED 18.7 billion
Published
2 years agoon
The Emirates Group today released its 2023-24 Annual Report, hitting new record profit, revenue, and cash balance levels.
Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations around the world to meet strong customer demand for its high-quality products and services.
For the financial year ended 31 March 2024, the Emirates Group posted a record profit of AED 18.7 billion (US$ 5.1 billion), up 71% compared with an AED 10.9 billion (US$ 3.0 billion) profit for last year. The Group’s revenue was AED 137.3 billion (US$ 37.4 billion), an increase of 15% over last year’s results. The Group’s cash balance was AED 47.1 billion (US$ 12.8 billion), the highest ever reported, up 11% from last year.
Combined Group profits for the last 2 years, at AED 29.6 billion, surpass pandemic losses of AED 25.9 billion during 2020-2022.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and Group said: “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.
“Huge credit is also due to the UAE’s visionary leaders, especially HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group is able to flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”
HH Sheikh Ahmed added: “The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders.”
Many major projects are already underway, including: a multibillion-dollar aircraft fleet and cabin renewal programme; new catering, cargo, and ground handling capabilities; advanced technologies to support the Group’s operations; expanded training and people development programmes; and initiatives to progress the Group’s sustainability agenda.
In 2023-24, the Group collectively invested AED 8.8 billion (US$ 2.4 billion) in new aircraft, facilities, equipment, companies, and the latest technologies to support its growth plans.
The Group’s total workforce grew by 10% to 112,406 employees, its largest size ever, as Emirates and dnata continued recruitment activity around the world to support its expanding operations and bolster its future capabilities.
The Group took significant strides in its sustainability journey during 2023-24, putting into action numerous initiatives focussed on the environment, its people, customers, and communities.
Environmental topics were high on the agenda during the year, as the UAE hosted the world’s biggest conference for climate action, COP28, in Dubai.
In 2023-24, Emirates signed new supply agreements to uplift sustainable aviation fuel (SAF) at its Dubai hub for the very first time, and also in Amsterdam and Singapore. The airline operated the first A380 demonstration flight using 100% SAF in one engine, collecting data to support industry efforts to enable a future of 100% SAF flying.
Recognising that airlines today have the limited viable solutions to meaningfully reduce carbon emissions, Emirates established a US$ 200 million fund to support R&D projects that focus on reducing the impact of fossil fuels in commercial aviation. It also became a founding entity of Air-CRAFT, a UAE-based research consortium for renewable and advanced aviation fuels; and joined The Solent Cluster, a UK initiative focused on producing low-carbon fuels for a variety of sectors, including aviation.
dnata continued to invest and induct more electric and hybrid vehicles to its global fleet of ground support equipment (GSE), adding new baggage tractors, cargo loaders, and pushback tractors to its USA operations. It also converted and refurbished diesel-powered GSEs in Italy to run on Hydrogenated Vegetable Oil and electric power. dnata’s UAE businesses including dnata logistics, Arabian Adventures, Alpha Flight Services and City Sightseeing Worldwide, transitioned to biofuel for its landside fleet of vehicles.
During the year, dnata became the first combined air services provider to receive the International Air Transport Association’s environmental management (IEnvA) certification for its commitment to sustainability across its UAE businesses; and Emirates achieved IEnvA Stage One and the IEnvA Illegal Wildlife Trade module certifications, for its efforts in environmental stewardship and anti-wildlife trafficking.
The Group ramped up investments in people development, rolling out a comprehensive programme of learning and training options for its workforce in partnership with top universities and key industry partners. A Gender Balance Council was established to champion and promote gender equality within the Group.
The Emirates Group has expanded its ESG reporting in its latest 2023-24 report and are adopting aspects of the GRI standards. It plans to evolve its reporting to meet ISSB and CSRD requirements in the coming years[1].
Sheikh Ahmed said: “We enter our 2024-25 financial year on strong foundations for continued growth. Emirates will receive delivery of 10 new A350 aircraft in 2024-25, adding to our fleet mix and supporting the next phase of its network growth. dnata will continue to leverage synergies and scale across its business divisions to grow its footprint and capabilities. In tandem, we are investing resources to minimise our environmental impact, develop our people, look after our customers and the communities we serve.”
“The business outlook is positive, and we expect customer demand for air transport and travel to remain strong in the coming months. As always, we will keep a close watch on costs and external factors such as oil prices, currency fluctuations, and volatile environments caused by socio-political changes. Our business model has been tested before, and I am confident in our resilience and ability to respond quickly to opportunities and challenges.”
He added: “Looking further ahead, the Dubai government has announced plans to start the next phase of expansion at Al Maktoum International Airport, which will eventually be the new hub for Emirates and dnata’s operations. This AED 128 billion (US$ 35 billion) investment will significantly expand and enhance Dubai’s aviation and logistics infrastructure, supporting the city’s growth, and Emirates’ and dnata’s growth.
Announcements
Dubai-born HOP Events targets 25 cities in global expansion
Published
3 days agoon
October 2, 2026
A Dubai-founded events company is planning to expand into 25 cities worldwide over the next two years, as it looks to build an international business around music and culture.
HOP Events, founded by Dubai-based entrepreneur Kalpesh Kinariwala, said it aims to stage more than 250 events a year across 75 venues and arenas, reaching more than one million people annually.
Its planned expansion includes London, New York, Doha and Singapore, alongside its existing base in Dubai.
The company has organised concerts featuring artists including A.R. Rahman, Arijit Singh, Lucky Ali, Nancy Ajram, Rahat Fateh Ali Khan and sitarist Rishab Sharma.
HOP now plans to broaden its programme beyond large-scale concerts, with storytelling, art and other cultural events forming part of its international expansion.
“Our goal has never been to build an events company,” Kinariwala said. “We’re building a platform where culture becomes a catalyst for connection.”
The plans were outlined after a recent Dubai event featuring storyteller Laksh Maheshwari.
HOP is the cultural arm of PANTHEON ACR, a Dubai-based venture founded by Kinariwala with interests spanning art, culture and real estate.
Kinariwala said Dubai’s position as a city with a large international population provided the starting point for HOP’s expansion.
The company said its programme over the next 24 months would feature both established international performers and emerging creative talent, alongside storytelling and other cultural experiences.
“The moments people carry with them for years are rarely the biggest,” Kinariwala said. “They are the moments that make us feel connected, inspired, understood or part of something larger than ourselves.”
Announcements
New-look Abu Dhabi T10 raises the stakes with star-studded 2026 draft; Naseem, Hales, Amir and Shanaka among top picks
Published
3 days agoon
October 2, 2026
The 2026 Abu Dhabi T10 Player Draft saw a host of international stars find new homes ahead of the upcoming season, with Naseem Shah (Royal Desert Champions), Noor Ahmad (Emirates Eagles), Muhammad Amir (UAE Bulls), Alzarri Joseph (Arabian Aces), Dasun Shanaka (Yas Lions), Shadab Khan (UAE Bulls), Kusal Perera (Emirates Eagles) and Chris Jordan (Royal Desert Champions) among the headline names selected.
The Draft also saw several of the UAE’s leading players join the six franchises, underlining the growing depth of local talent in the reimagined Abu Dhabi T10. Alishan Sharafu (Arabian Aces), Aayan Afzal Khan (Royal Desert Champions), Muhammad Waseem (Royal Desert Champions), Haider Razzaq (Emirates Eagles), Muhammad Rohid (UAE Bulls), Ansh Tandon (Yas Lions) and Luqman Faisal (Emirates Eagles) were among the prominent UAE selections.
Awais Ali Shah (United Tigers), Dhruv Parashar (Royal Desert Champions), Harshit Kaushik (Emirates Eagles), Wali Muhammad (UAE Bulls), Adithya Shetty (United Tigers), Haider Ali (Yas Lions) and Vriitya Arvind (Arabian Aces) were also among those selected, further strengthening the UAE presence across the six squads.
The Arabian Aces will have plenty of experience and firepower in their ranks, with Tom Kohler-Cadmore, Sam Billings and Imran Tahir among their notable draft selections. Alzarri Joseph, Richard Gleeson, Dwayne Pretorius and Dunith Wellalage add further bowling and all-round options to a squad that already featured Moeen Ali, Andre Russell and Liam Livingstone as pre-draft signings. The Aces also secured further local and emerging talent to complement their international core.
The Emirates Eagles’ batting stocks feature Alex Hales, KS Bharat, Hassan Nawaz and Kusal Perera, while David Wiese and Chris Green offer valuable all-round options. Noor Ahmad, Rehan Ahmed and Ali Raza further strengthen the bowling department, complementing pre-draft signings Rovman Powell, Shimron Hetmyer and Trent Boult.
The Royal Desert Champions assembled a formidable side led by the likes of Naseem Shah, Maheesh Theekshana, Dushmantha Chameera and Chris Jordan. Muhammad Waseem, Brandon King and Jayanth Liyanage add batting depth, while Gulbadin Naib and Keemo Paul provide all-round ability. The side already had Nicholas Pooran, Phil Salt and Sherfane Rutherford on board as pre-draft signings.
The UAE Bulls have an abundance of power-hitting options through Andre Fletcher, Aneurin Donald, Khwaja Nafay, Max Bryan and Azam Khan, with Shadab Khan and Khushdil Shah offering all-round depth. Muhammad Amir and Nuwan Thushara add to the bowling attack, while the franchise had already secured Kieron Pollard, Sunil Narine and Romario Shepherd before the Draft. Scotland’s Bradley Currie also joins the squad.
The United Tigers have established international experience with Azmatullah Omarzai, Odean Smith and Mahedi Hasan offering all-round options, while Abbas Afridi and Sufyan Moqim strengthen the bowling resources. The Tigers’ pre-draft haul comprised the Pakistani trio of Fakhar Zaman, Iftikhar Ahmed and Faheem Ashraf.
The Yas Lions have plenty of experience with James Vince, Dasun Shanaka, Tom Moores and Akeal Hosein among their notable selections. Eshan Malinga and Obed McCoy build their bowling strength, while the Lions had already secured Jason Holder, David Willey and Andries Gous before the Draft. Netherlands’ Aryan Dutt also joins the squad as their Associate Member selection.
Arabian Aces: Moeen Ali, Andre Russell, Liam Livingstone, Alishan Sharafu, Muhammad Arfan, Tom Kohler-Cadmore, Richard Gleeson, Sam Billings, Paul Walter, Alzarri Joseph, Imran Tahir, Salman Irshad, Quentin Sampson, Dwaine Pretorius, Vriitya Arvind, Ibrahim Masood, Amshi De Silva, Dunith Wellalage
Emirates Eagles: Rovman Powell, Shimron Hetmyer, Trent Boult, Haider Razzaq, Luqman Faisal, David Wiese, Noor Ahmad, Alex Hales, KS Bharat, Akif Javed, Hassan Nawaz, Rehan Ahmed, Ali Raza, Chris Green, Harshit Kaushik, Hilal Afghan, Toby Albert, Kusal Perera
Royal Desert Champions: Nicholas Pooran, Phil Salt, Sherfane Rutherford, Ali Naseer, Aayan Afzal Khan, Muhammad Waseem, Naseem Shah, Maheesh Theekshana, Dushmantha Chameera, Luke Wood, Gulbadin Naib, Brandon King, Janith Liyanage, Keemo Paul, Dhruv Parashar, Raizal Nadir, Tajinder Singh Dhillon, Chris Jordan
UAE Bulls: Kieron Pollard, Sunil Narine, Romario Shepherd, Muhammad Rohid, Tahir Zaman, Aneurin Donald, Muhammad Amir, Andre Fletcher, Khwaja Nafay, Nuwan Thushara, Khushdil Shah, Mohammad Wasim Jr, Max Bryant, Azam Khan, Wali Muhammad, Uddish Suri, Bradley Currie, Shadab Khan
United Tigers: Fakhar Zaman, Iftikhar Ahmed, Faheem Ashraf, Zeeshan Naseer, Awais Ali Shah, Azmatullah Omarzai, Sufyan Moqim, Abbas Afridi, Odean Smith, Nurul Hasan Sohan, Shak Mahedi Hasan, Habibur Rahman Sohan, Noor ul Rahman, Shamim Hossain, Adithya Shetty, Noor Ullah Ayubi, Paul van Meekeren, Yasin Patel
Yas Lions: Jason Holder, David Willey, Andries Gous, Ajay Kumar, Ansh Tandon, James Vince, Dasun Shanaka, Eshan Malinga, Karim Janat, Sanjay Krishnamurthi, Tom Moores, Khuzaima Bin Tanveer, Obed McCoy, Kamil Pooran, Haider Ali, Masood Gurbaz, Aryan Dutt, Akeal Hosein
Announcements
UAE petrol prices rise again: New fuel rates for October revealed
Published
5 days agoon
September 30, 2026
Filling up in the UAE is about to get more expensive, with petrol and diesel prices rising across all categories from October 1.
UAE motorists are set to feel another pinch at the pump this month after the UAE Fuel Price Committee announced higher petrol and diesel rates for October 2026.
The increase means drivers will pay more per litre across every petrol category, while diesel prices have also moved higher.
Fuel prices for October
The new rates will take effect from Thursday, October 1. Here’s what motorists will pay:
Super 98: Dh4.40 per litre
Special 95: Dh4.28 per litre
E-Plus 91: Dh4.21 per litre
Diesel: Dh4.80 per litre
That means Super 98 rises by 60 fils per litre, while Special 95 and E-Plus 91 increase by 59 and 60 fils respectively. Diesel is up by 50 fils per litre.
How much more will a full tank cost?
For motorists, the increase could quickly add up over the course of a month.
For example, filling a 50-litre tank with Super 98 will cost Dh220 in October, compared with Dh190 in September, a difference of Dh30 per fill-up.
A 50-litre tank of Special 95 will cost Dh214, compared with Dh184.50 previously.
For E-Plus 91, the same tank will cost Dh210.50, up from Dh180.50.
Diesel drivers filling 50 litres will pay Dh240, compared with Dh215 in September.
Why are fuel prices changing?
The UAE Fuel Price Committee reviews retail fuel rates at the end of each month, with prices linked to movements in global energy markets.
UAE fuel prices have experienced notable fluctuations this year. Rates fell in July after several consecutive monthly increases, before moving higher again in August and September.
The latest increase comes amid continued volatility in global and regional energy markets.
What does this increase mean for household budgets?
For people who drive every day, higher fuel prices can have an effect beyond the cost of a single trip to the petrol station.
Commuters, families and businesses that rely heavily on road travel may see their monthly transport expenses rise, particularly if they fill up frequently.
Even a relatively small increase per litre can become more noticeable when multiplied across several refuelling trips over the month.
Dubai-born HOP Events targets 25 cities in global expansion
New-look Abu Dhabi T10 raises the stakes with star-studded 2026 draft; Naseem, Hales, Amir and Shanaka among top picks
