Connect with us

Announcements

Emirates Group reports best-ever financial performance with record profit of AED 18.7 billion 

Published

on

Spread the love

 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

Canada Super 60 names Women’s Trophy after cricketing legend Mel Jones

Published

on

Spread the love

Canada’s pioneering cricket league, Canada Super 60, has announced that its inaugural Women’s Trophy will be named in honour of Mel Jones, the former Australian cricketer, respected broadcaster, and tireless advocate for women’s cricket.
Canada Super 60 is the world’s first-ever ten-over-a-side event to launch with both men’s and women’s competitions from its inaugural season. The league will be staged under the roof of the iconic BC Place in Vancouver, showcasing international stars alongside homegrown Canadian talent.

As part of its commitment to celebrating women’s cricket and inspiring future generations, Canada Super 60 will name the Women’s Trophy each year after an international women’s cricket legend. This tradition will not only create awareness but also honour trailblazers whose contributions have shaped the women’s game.

This year, the league has chosen Mel Jones—not only for her outstanding career in cricket and broadcasting, but also for her leadership off the field. Jones has been a leading voice for women’s cricket worldwide, and the ICC has widely recognized her efforts. She played a pivotal role in supporting Afghan women cricketers forced to flee their homeland after the Taliban takeover in 2021, helping coordinate their evacuation to Australia, providing resources, and co-founding the Pitch Our Future initiative to support their education and sporting careers. In recognition of these efforts, she was honoured with the prestigious MCC Spirit of Cricket Award in 2025.

Thanks to her advocacy and international coordination, many of these Afghan players found refuge abroad including two who are now living in Canada, following the Canadian government’s support for their refugee applications. This aligns with the Canada Super 60 vision of using cricket as a platform for opportunity and inclusion. Mel Jones on Receiving the Honour said “This honour from Canada Super 60 truly humbles me,” said Mel Jones. “To have the Women’s Trophy named after me is something very special. What excites me most is the vision behind this initiative creating more opportunities and visibility for women’s cricket, especially in associate nations. Platforms like Canada Super 60 will inspire and empower a new generation of players. My hope is that one day, a Canadian cricket legend will have this trophy named after them, as the women’s game continues to grow in this country.”

The Canada Super 60 Women’s Trophy will be presented at BC Place, Vancouver, during the inaugural edition of the tournament, taking place from October 8–13, 2025.

Continue Reading

Announcements

Mosaic opens in Dubai, promising smarter marketing decisions for UAE businesses

Published

on

Spread the love

Mosaic, an integrated marketing agency, was officially launched in Dubai recently promising a new, more intentional approach to business growth for companies in the UAE. Led by Agency Director Shubhang Bhattacharya and Head of Digital Prasanna Venkat, Mosaic aims to buck a common market trend: businesses that start strong but struggle to scale.

Bhattacharya and Venkat have spent the last decade in the business setup space in Dubai, launching campaigns that helped countless businesses start. This experience has given them a clear vision for Mosaic. 

“So many businesses, no matter how long they’ve been around, try to handle marketing on their own and miss out on huge opportunities,” says Bhattacharya. “Making the right decisions at the right time is a make-or-break moment for any business. We give businesses the expertise to make marketing a cornerstone of their success, not just an afterthought.”

Mosaic’s philosophy centres on making “better decisions” rather than simply chasing bigger budgets. “We’ve seen too many businesses struggle with direction,” adds Venkat. “At Mosaic, our starting point is always the same: what actually creates value for the client, and how do we get there without overcomplicating it?”

Mosaic isn’t waiting around to make an impact. Since its soft launch in February 2025, the agency has already delivered serious results. That includes the “Employee to Entrepreneur” campaign, which pulled in over 23 million impressions, and the launch of the UAE’s first-ever mobile business setup initiative, the “Startup Wagon.” The team also proved its ability to tap into the culture with a simple, silly reel on the Coldplay concert trend that went on to get over 14 million views on Instagram.

The name “Mosaic” is a core tenet of the agency’s operational philosophy. It represents how the team works: bringing distinct, diverse perspectives together to create a result that is greater than the sum of its parts. 

Continue Reading

Announcements

AKCEL GP Academy officially launches in UAE with stellar international roster

Published

on

Spread the love

AKCEL GP Academy today, announced a dynamic line-up of rising stars to compete in the 2025/26 Rotax Max and IAME UAE Karting Championships as part of their inaugural season. The line-up features Atiqa Asif Mir, Rivaan Dev Preetham, Rehan Khan Rasheed, Ridhaan A, Krishay Gutte, and Jagrat Detroja from India, Brando Londono from Canada and Linas Volungevicius from Lithuania.

The AKCEL GP Academy, based at the iconic YAS Marina Circuit, goes beyond racing with 360° driver development; covering technical training, fitness, mental conditioning in partnership with Wishtok for performance and wellness coaching, and career planning, offering a clear, professional roadmap to Formula racing and beyond. The Academy’s state-of-the-art garage experience centre and race-prep facilities are a testament to their vision to become the most advanced, structured, and internationally recognized karting academy in the region, nurturing future racing champions from grassroots.

AKCEL GP Academy is a part of the rapid emergence of UAE as one of the world’s most exciting motorsport destinations, with globally renowned circuits such as Yas Marina in Abu Dhabi and Dubai Autodrome, and by hosting the prestigious Formula 1 Abu Dhabi Grand Prix. In 2024, the country’s sports event market generated more than Dh22.8 million in revenue and is projected to surpass Dh44 million by 2030, reflecting an annual growth rate of 11.8 percent. With the global motorsport industry valued at Dh34.9 billion, the UAE’s growing investment in racing innovation and talent development makes the launch of AKCEL GP Academy especially timely and impactful.

Leading the charge, Atiqa Mir has already made history as the first Indian to secure a top-10 finish at the Rotax Euro Trophy. Rivaan Dev Preetham, a two-time national champion, became India’s first race winner at the FIA Motorsport Games, finishing World No. 8 in 2024. Jagrat Detroja also made headlines in Valencia, taking pole position and finishing 5th overall. The next wave of Indian talent includes Rehan Khan Rasheed, holder of fastest laps across all three FMSCI-homologated tracks in Micro Max, and 11-year-old Ridhaan A, who broke into the National Karting Championship top-six on debut. Krishay Gutte adds further promise with consistent performances across Asia and the UAE.

On the international front, Brando Londono, Canada’s most-followed young racer, brings FIA European Karting Championship experience and is preparing his step up to Formula 4. Linas Volungevicius, a front-runner in the Rotax Latvia and Lithuania Championships, impressed with a top-10 finish at the FIA Motorsport Games. Together, these eight drivers form a fearless and ambitious squad set to light up the UAE karting circuit.

“We are thrilled to begin the first season of AKCEL GP Karting Academy, a platform that celebrates talent, passion, and perseverance. More than just racing, AKCEL GP Academy builds future champions and offers young drivers a world-class pathway here in the UAE and beyond. This inaugural season brings together talent from across the globe, proving that motorsport knows no borders. To every young driver: this is just the start of your journey. With hard work and belief, the track ahead has no limits,” declared Amit Kaushal, Chairman, AKCEL Group.

Looking ahead, AKCEL GP Academy plans to expand into European championships by 2027, creating a seamless pathway into the FIA Pyramid from FIA F4, FIA FREC, FIA F3 and FIA F2. Combining world-class infrastructure with a structured career plan, the Academy positions itself as more than a team, it is a talent factory and a gateway to professional motorsport.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/