UNITED ARAB EMIRATES: Emirates at 91% of Pre-Conflict Capacity; Clark Says Weekly Revenues Exceed 2025 Levels

FRANKFURT, Germany

• Emirates is operating at 91% of its capacity before the Iran conflict, with revenues last week exceeding the same period in 2025, President Tim Clark said at World Routes 2026 in Frankfurt.
• Clark said demand across much of the network remained strong despite missile attacks, airspace closures and higher fuel costs. “Had it not been for the fuel, we would be ahead of last year,” he said. He described 2025 as Emirates’ most profitable year on record and noted that last week’s passenger and cargo revenue was higher than the comparable week.
• Fuel accounts for about 30% of Emirates’ operating costs. Clark said higher oil prices have limited the improvement in results. “Fuel cost is an issue. We know that. We’ve been up a $140 before. People have forgotten that.”
• He expects a significant rebound in travel once regional tensions ease, similar to the recovery after previous disruptions. Demand from Asian markets, including China, remained particularly strong.
• Middle East carriers as a group saw international passenger demand fall 14.2% year-on-year in August, according to IATA. Emirates’ performance has been stronger than the regional average.
• Emirates reported a record profit before tax of AED 22.8 billion (USD 6.2 billion) for the year to 31 March 2026, on revenue of AED 130.9 billion (USD 35.7 billion). Group profit before tax was AED 24.4 billion (USD 6.6 billion). The Iran conflict began on 28 February and affected the final month of that financial year.
• Earlier in the year Clark had said Emirates was operating at about 65% of capacity. By July he said it had reached about 90–92%. Deputy President Adel Al Redha said in September that the airline expected to restore full pre-conflict capacity by year-end.

Sources:

• Emirates247
• Aviation Week
• Arabian Business