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DUBAI, United Arab Emirates: The long-haul carrier Emirates announced Monday it saw record profits of $4.7 billion in 2023 as the airline fully took flight after the turbulent years of the coronavirus pandemic disrupted its operations. According to an internal email sent to staff seen by The Associated Press, the airline also gave its over 112,000 employees 20-weeks bonus pay.
Emirates, owned by Dubai's government, announced revenues of $33 billion, compared to $29.3 billion the year before. Profit the year prior had been $2.9 billion.
The airline carried 51.9 million passengers in its 2023 financial year, as compared to 43.6 million the year prior.
"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,” Chairman and CEO of Emirates HH Sheikh Ahmed bin Saeed Al Maktoum, said in a statement.
"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.”
The Emirates' results track with those for its base, Dubai International Airport. The world's busiest airport for international travelers had 86.9 million passengers last year, surpassing numbers for 2019 just before the coronavirus pandemic grounded global aviation. The airport had 89.1 million passengers in 2018 - its busiest-ever year before the pandemic.
The airport now plans to move to the city-state’s second, sprawling airfield in its southern desert reaches in the next 10 years in a project worth nearly $35 billion.
The overall Emirates Group, which includes travel company dnata, as well as food, beverage and leisure holdings, reported profits of $5.1 billion off revenues of $37.4 billion.
The group declared a dividend to its owner, a sovereign wealth fund known as the Investment Corporation of Dubai, of $1 billion.
