The Emirates Group rewards its employees for their outstanding performance by granting them a bonus equivalent to 20 weeks’ salary

15 May 2024
The Emirates Group rewards its employees for their outstanding performance by granting them a bonus equivalent to 20 weeks’ salary

Record-Breaking Performance Leads to Employee Bonuses

The Emirates Group will reward employees with a bonus equivalent to 20 weeks’ salary in May. This generous bonus celebrates the Group’s record-breaking performance in the fiscal year 2023/2024. During this period, the Group achieved unprecedented profitability, posting a record profit of AED 18.7 billion and revenues of AED 137.30 billion.

Historic Financial Results

The Emirates Group’s exceptional financial performance led to the bonus for employees. The Group reported its best-ever financial results, with a record profit of AED 18.7 billion (US$ 5.1 billion). This marked a remarkable 71% increase from the previous year. Additionally, the Group achieved record revenue of AED 137.3 billion (US$ 37.4 billion), reflecting a 15% surge. The year ended with its highest-ever cash balance of AED 47.1 billion (US$ 12.8 billion).

Acknowledgment of Leadership

Dubai’s forward-thinking policies and the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum played a crucial role in this success. Chairman and Chief Executive, His Highness Sheikh Ahmed bin Saeed Al Maktoum, expressed gratitude to the UAE’s leadership, highlighting their pivotal role in the Group’s achievements.

Investments and Workforce Growth

The Emirates Group’s record profit allows further investments across various sectors. These include new aircraft, facilities, technology, products, services, and employee development programs. Notably, the Group invested AED 8.8 billion (US$ 2.4 billion) in growth initiatives during the fiscal year 2023/2024. The Group’s workforce also grew by 10% to 112,406 employees, its largest size ever.

Commitment to Sustainability

The Group implemented various initiatives focused on environmental conservation, employee welfare, customer satisfaction, and community engagement. These actions highlight the Group’s dedication to responsible corporate citizenship and long-term sustainability.

Future Plans and Optimism

With a strong financial position, the Emirates Group prepares for future growth. Major projects are underway, including a multibillion-dollar aircraft fleet and cabin renewal program, new catering and cargo capabilities, advanced technologies, and expanded sustainability initiatives.

Looking ahead, the Emirates Group remains optimistic about the business outlook. The Group anticipates strong customer demand for air transport and travel in the coming months. With a resilient business model and agile approach to challenges, the Group is poised to seize opportunities and continue its upward trajectory of success.