Dubai-based Emirates Group has announced an increase in salaries and allowances for its employees after it reported record-breaking profits in the fiscal year 2022-23.
Starting next month, employees will receive a five percent raise in their basic salary. They will also get higher allowances for accommodation and transportation. Beginning in September 2023, the group will provide a 10 percent raise in education support allowance. The company shared this news in an email to its employees.
In addition to the salary adjustments, the Group plans to give employees a 24-week bonus. This bonus comes after the impressive financial results were announced in May. The Emirates Group comprises major subsidiaries like Emirates and dnata.Â
Overall, the group has a total of 102,379 employees, and it added 85,219 employees in the last financial year. dnata offers services like ground handling, cargo, travel, and flight catering.
The Emirates Group had a fantastic financial year. It made a record profit of AED 10.9 billion for the fiscal year ending on 31 March 2023. It is a big turnaround from the previous year’s loss of AED 3.8 billion.Â
The group’s revenue also skyrocketed, reaching AED 119.8 billion, which is an 81 percent increase compared to last year. At the same time, its cash balance hit an all-time high of AED 42.5 billion.
The email to employees also mentioned another development. The UAE National Retention Allowance for Emirati nationals will increase, which is excellent news for the group’s Emirati employees. However, employees working outside the UAE will receive salary adjustments based on the local cost of living.
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