Emirates relies on fuel hedging and solid cash position to sustain growth and operations.
Dubai: Emirates Group expects a stable operating environment as it enters the 2026–27 financial year, supported by fuel hedging measures, secured supply arrangements and strong cash reserves, despite ongoing geopolitical uncertainty.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said military tensions in key regions continue to pose concerns, although the situation has temporarily stabilised.
“Right now, military activities between the US, Israel and Iran are paused under a ceasefire agreement. We hope for a clear resolution to the hostilities soon, and a return to market stability. But in the meantime, we are not sitting on our hands,” he said.
Fuel strategy
Emirates Group said it has implemented measures to manage fuel-related risks, which remain one of the largest cost components for global airlines.
“From a fuel perspective, Emirates is well-hedged until 2028-29; and we have worked with our suppliers to secure the volumes required to support our current operations and our scaling up to pre-disruption levels,” Sheikh Ahmed bin Saeed Al Maktoum said in a statement.
Fuel hedging enables airlines to shield themselves from sharp swings in oil prices, helping create more predictable operating costs over the longer term.
Sheikh Ahmed bin Saeed Al Maktoum made the comments as Emirates released its financial results for 2025–26. The airline follows an April-to-March financial year, with the latest figures covering the 12 months ending March 31, 2026.
The Emirates Group — which includes Emirates airline, dnata and subsidiaries across cargo, catering, travel and retail — reported a record pre-tax profit of Dh24.4 billion, up 7 per cent year-on-year. Revenue rose 3 per cent to Dh150.5 billion, while cash assets increased 12 per cent to Dh59.6 billion.
Global aviation, which had been experiencing strong post-pandemic growth, faced renewed disruption following the US-Israel-Iran conflict that escalated in late February. Conditions have since begun stabilising, with airlines gradually restoring schedules and capacity.
Emirates Group is currently operating services to 137 destinations across 72 countries, spanning the Americas, Europe, Africa, West Asia, the Middle East and GCC, the Far East, and Australasia.
Operational resilience
Sheikh Ahmed bin Saeed Al Maktoum said the Group’s diversified structure and broad business portfolio help it withstand short-term market disruptions.
“At dnata and across the Group, our business streams, scale, portfolio mix, and years of investments give us the resilience and agility to address any near-term challenges.”
Cash reserves and investment plans
The Emirates Group said it will continue investing across its operations while maintaining a strong financial position.
“The Emirates Group enters 2026-27 with very strong cash reserves, which enable us to progress with our plans to strengthen our business without knee-jerk cost control measures.”
The Group’s planned investments include new aircraft deliveries, fleet retrofit programmes, and wider infrastructure expansion initiatives.
Focus areas
The Emirates Group said both Emirates and dnata will continue prioritising product development, customer experience and talent acquisition.
“Our aircraft deliveries and retrofit programme will continue apace… Emirates and dnata will stay focused on offering industry-leading products and customer experiences…”
Outlook
Despite continued geopolitical and market uncertainty, the Group said its long-term strategy remains firmly in place.
“Our fundamentals are strong. The Emirates Group’s proven business model is unchanged. Dubai’s place at the nexus of global commerce, trade and travel flows is unchanged,” Sheikh Ahmed bin Saeed Al Maktoum said.
The airline said it will continue expanding operations while closely monitoring geopolitical developments and broader market conditions.
