'You deserve every dirham': Emirates Group employees get 20 weeks' bonus after record profits

The company announced its strongest financial performance to date for the fiscal year 2023-24, hitting a Dh18.7-billion mark

Nasreen Abdulla

Published: Mon 13 May 2024, 11:06 AM

Last updated: Mon 13 May 2024, 10:17 PM

The Emirates Group has awarded its employees a bonus worth 20 weeks of their salary as the group announced record-breaking profits. Those working with the group will receive the payout with their May salary.

In an email seen by Khaleej Times, Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, expressed gratitude to the Emirates Group employees for their 'heroic efforts.' He commended their dedication "for powering our collective ambitions and for achieving them, you deserve every dirham of the 20-week profit share,” he wrote.

Advertising

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

The total number of employees in the group rose by 10% to 112,406 - their largest ever employee workforce to date as Emirate and Dnata saw significant profit and revenue increases in the last year. The employees are spread across 84 countries and are of more than 170 nationalities.

Some employees, who spoke to Khaleej Times on condition of anonymity, said they were overjoyed. “I was hoping and praying for the payouts,” said one, who has worked with the group for several years. “I am overjoyed. It is less than last year, but a bonus is a bonus. The company doesn’t have to give it. But they have, and it is a big amount. I am really happy about it.”

Last year, Emirates had paid its employees 24 weeks’ worth of salary as a bonus on the back of another record-setting performance.

Record profit

Earlier in the day, Emirates Group reported its best-ever financial performance with a record profit of Dh18.7 billion, up 71% from last year.

In his email to staff, Sheikh Ahmed said the 2023-2024 year will go down as a “memorable one” in the organisation's history. “We broke key records across Group revenue, profit, cash assets, and workforce numbers, as well as Emirates’ profit and dnata’s revenue,” he wrote. “Emirates’ passenger revenue crossed the AED 100 billion mark for the first time. Our results demonstrate what forward-thinking, acumen, the right investments, and above all, having a highly talented, committed, and agile team can do.”

Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations worldwide to meet strong customer demand. The group’s cash balance was Dh47.1 billion, the highest ever reported, up 11% from last year.

Continued growth

According to the financial report, Emirates will continue to grow its businesses. “The business outlook is positive with projections of strong, sustained demand for international air transport and travel,” wrote Sheikh Ahmed in the report.

Emirates will receive 10 new A350 aircraft in the coming year, with the first unit joining the fleet in August. The addition of five new 777 freighters in mid-2024 will also boost the group’s cargo operations. According to the email, the group will continue to hire talent.

“We are scouring the world for thousands of cabin crew, pilots, engineers, customer service agents, IT professionals and other specialists,” it read. “dnata intends to recruit thousands of new colleagues by 2027 to bolster its operations and achieve its solid medium-term plans."

ALSO READ: