Just a day following the declaration of its most successful financial year to date, Emirates Group has committed to granting a 24-week bonus to its workforce, numbering over 100,000.
Emirates has not publicly acknowledged this development, though numerous employees confirmed to Khaleej Times that they have received email notifications about the bonus.
Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and Chief Executive of Emirates Airline and Group, mentioned the exceptional performance of the company in the email, stating that the employees "are fully deserving of the 24-week bonus to be included in [their] May salary."
On the previous day, the company shared its annual report for 2022-23, which highlighted an unprecedented annual profit of Dh10.9 billion (US$ 3.0 billion). This marks a significant recovery from the previous year's losses.
Employee Efforts
In his announcement on Thursday, Sheikh Ahmed applauded the diligent efforts of his staff. "Our record-breaking financial performance and cash balance for the financial year 2022-23 are a testament to our successful business model, strategic planning, the dedication of our workforce, and robust partnerships across the aviation and travel industry," he stated.
In his communication to the employees, Sheikh Ahmed suggested they use the bonus as they see fit. "Invest it wisely, save or spend it judiciously, and revel in the fruits of your labor," he advised.
The bonus amount will vary based on each employee's base pay. "Every employee will receive an amount equivalent to 24 weeks' or 6 months' of their basic salary," one anonymous employee revealed.
Many voiced their joy and relief upon receiving the news. "It's not just about the financial gain," one employee noted. "The pandemic was an extremely challenging period for us. It seemed as if life had come to a standstill, but now we've managed to reverse the situation, which is immensely satisfying."
Dubai's Resilience
On Thursday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, praised the accomplishment, noting that it embodied the city's resilience.
"In the face of one of the most severe global crises that the aviation sector has witnessed in the past three years, this has been our most lucrative year yet. Emirates Airlines exemplifies Dubai's spirit. Crises only serve to make us more resilient, and every year reaffirms our commitment to maintaining global prominence," he expressed via Twitter.
Both Emirates and dnata witnessed substantial revenue growth in 2022-23, as the group broadened its air transport and travel-related services following the lifting of nearly all pandemic-related restrictions worldwide. The group’s cash reserves reached a record high of Dh42.5 billion (US$ 11.6 billion).