Do we like them?

Do we like Emirates?

Dubai-based international airline and flag carrier of the UAE, flying Airbus A380s and Boeing 777s from its Dubai hub.

Our score: 5 out of 10. A hugely profitable, well-run airline, but a heavy polluter with a record of regulator fines and patchy worker rights. We'd back it with caution, not enthusiasm.

Emirates started in 1985 with backing from Dubai's royal family and two leased planes from Pakistan International Airlines. It was founded by Ahmed bin Saeed Al Maktoum, who is still chairman. One source says it was meant to run without government subsidies. It is now the biggest airline in the Middle East, based at Dubai International.

It is wholly owned by the Dubai government through the Investment Corporation of Dubai, so there are no outside shareholders. The airline's own results say it was the world's most profitable airline in 2025-26, with group profit before tax of AED 24.4bn (US$6.6bn). Tim Clark, the president, is the best-known face of the business.

The 2026 Iran war hit it hard. Its half-year results published on 5 November 2026 show profit after tax down 66% on last year. Emirates blames the regional conflict and high fuel prices. In June, Clark said it would be happy to just break even if the conflict dragged on.

On the dark side, Italy's privacy regulator fined it €180,000 in June 2026 over how it handled passengers' health data. The US Department of Transportation fined it $1.8m in 2024 over flights through Iraqi airspace. A New Zealand tribunal also ruled against it in 2023 over misleading business-class advertising. Crew have raised conditions with Reuters, though pay perks exist. We land at a cautious 5.