Dubai-based airline Emirates has announced that its employees will receive a bonus equivalent to 24 weeks of their salary following the carrier’s record-breaking profits for the 2022-2023 financial year.

The airline reported gross revenue of $29.3bn, the highest in its 38-year history, after a few rough years for the global aviation industry. This was driven by a 32% increase in total passenger and cargo capacity, which reached 48.2 billion ATKMs, as well as the relaunch of previously suspended passenger services, expansion of its global network and increase in frequencies on on-demand routes.

Emirates carried 43.6 million passengers in the 2022-2023 financial year, up 123% from the previous year, with a 78% increase in capacity and a 38% rise in the passenger seat factor to 79.5%. The carrier’s Chairman and Chief Executive, His Highness Sheikh Ahmed bin Saeed Al Maktoum, attributed the airline’s record financial performance and cash balance to the company’s proven business model, careful forward planning, hardworking employees, and strong partnerships across the aviation and travel ecosystem.

H. H. Sheikh Ahmed added that the group will step into the new financial year with a “strong positive outlook,” expecting continued profits despite challenges such as inflation, high fuel prices, and political and economic uncertainty. The bonus payment to employees reflects the airline’s commitment to recognizing and rewarding the hard work of its staff, who played a crucial role in driving the company’s success in the past year.