Dubai: Emirates employees to get 24-week salary bonus as company records highest-ever profit, say sources

Less than 24 hours after posting its most profitable year ever, Emirates Group has promised over 100,000 employees a 24-week bonus.

Emirates refused to comment on the matter. However, several staff members have confirmed to Khaleej Times that they received e-mails confirming the incentive.

In the e-mail, Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group wrote about the spectacular performance the company showcased before telling employees that they “deserve every bit of the 24-week bonus which will be added to [their] May salary.”

On Thursday, the company released its 2022-23 annual report and posted a record annual profit of Dh10.9 billion (US$ 3.0 billion). This is a complete turnaround from the company’s loss position last year.

Hard work

In his statement on Thursday, Sheikh Ahmed lauded the hard work of his employees. “We have delivered a record financial performance and cash balance for our financial year 2022-23,” he said. “This reflects the strength of our proven business model, our careful forward planning, the hard work of all our employees, and our solid partnerships across the aviation and travel ecosystem.”

In his e-mail to employees, Sheikh Ahmed also advised them to use the additional money as they wish. “Invest it wisely, save or spend it well and enjoy the results of your hard work,” he wrote.

The payout will vary depending on the basic salary of the employees. “Every employee will get 24 weeks’ or 6 months’ worth of their basic salary,” said one employee who did not wish to be named.

Many expressed happiness and relief after getting the news. “It isn’t just about the money,” said one. “Covid was one of the toughest times for us. It felt like life had come to a halt but now, to have turned that around and reached this position feels great.”

Dubai spirit

On Thursday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, hailed the achievement, saying it represented the city’s spirit.

“This is the most profitable year ever, following one of the worst global crises that the aviation sector has experienced in the past three years. Emirates Airlines represents the spirit of Dubai. Times of crises make us stronger, and each passing year further strengthens our resolve to remain at the forefront globally,” he tweeted.

Both Emirates and dnata saw significant revenue increases in 2022-23 as the group expanded its air transport and travel-related operations following the removal of nearly all pandemic-related restrictions around the world. The group’s cash balance was Dh42.5 billion (US$ 11.6 billion), the highest ever reported.

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