Emirates' half-year profit fell by around two-thirds amid the Iran conflict, but the airline still earned roughly $1 billion, and the results look far better than expected.
"Emirates Group owns both the airline and the ground handling company" - So could airlines based at LHR or JFK 😉 It's their own decision to outsource everything. Ultimately, the main benefit EK has is that they're not publicly traded so they can have a long term strategy.
Profit was accounted for by their fuel hedges, and the accounting treatment they gave those.
Mhm. Smoke and mirrors. And I’ve found it hilarious how some commenters on these sites argue nonstop over 10-Ks and other filings as if they’re analysts. Like, fellas, most of us are just frequent fliers who do not need to think about yields, CASM, RASM, etc.
That's Arab math for you. Two plus two equals "sikis"!
In all seriousness though, they must have some impressive fuel hedges that none of their competitors were able to secure. That and a total withdrawal of capacity by their competitors probably saved their half-year financials.
First of all they’re subsidized and we won’t see the real numbers. Secondly they’ve had a monopoly over the last months! To be honest, this is really bad for consumers because the home carriers in Abu Dhabi and Dubai have something close to a monopoly, especially on routes to Europe, where there is hardly any competition because many other airlines have not yet resumed their services. Given the high prices we have to pay for flights, this is really bad for consumers. I’ve personally noticed a significant increase in prices, and it’s frustrating to see so little competition in the market.
Maybe a potential monopoly however they still have very competitive fares, at least from what my family has paid to travel via the Gulf Countries.
Of course, many Germans avoid to travel via the Gulf to Asia and that’s why they’re often competitive compared to nonstop flights, but on routes from Germany to Dubai Business Class rarely costs less then 3,500 € for those flight. Before the war and with competition I found prices around 2,000 € return easily.
@1990_, not sure if routing through DXB, DOH, etc. is still an issue though maybe through RUH? We'll have to wait and see if this administration got the picture. My Emirates business class flights to Jordan six/seven weeks ago went flawless, my Dubai Connect at the JW Marriott was perfect (I even got Bonvoy points!), lounges were incredible, food on the flights was superb (Tandoori Lobster!), service fantastic, my Espresso Martini upon waking up (as suggested by an OMAAT reader!) was heaven on heaven, and I flew on three different types of seats: A380, 777-300, 777-200LR, with only the latter not being at the top of the game but still an awesome experience. In short, I can see why people choose to fly Emirates over the competition, which helps their bottom line.
@Ricky_ Glad it worked out for you; though, it’s “flawless” …until it isn’t. Yes, I, too, thoroughly enjoyed my shower on their a380, and Q-Suite on their competitor. That said, I’d only consider EK’s fifth freedom routes these days. JFK-MXP or EWR-ATH seem fine to me. Of course, I also wish their treatment of labor was better. It’s nuanced, for sure.
@1990:
I have a number of family members traveling via the Gulf Countries (including a few days ago on Eithad) and none have had any problems.
Glad to hear, @jacobin777. My last itinerary in the region was late February 2026; I missed what could’ve been weeks of horror by mere days. I’ve seen Ben (and Matthew’s) trip reports since then, and also grateful everything went fine for them, too. All said, I’m good for a while.