Emirates Group's dnata eyeing M&A deals

16 May 2024 CW Team

The CEO of dnata, part of the Emirates Group, mentioned that they were exploring merger and acquisition (M&A) opportunities in various industries and regions, including South America. He stated that they were in discussions with approximately 40 companies at any given time, with numerous deals nearing finalization. Chief Executive Steve Allen informed Reuters that their focus primarily lay on acquiring small to medium-sized businesses.

He emphasised South America as a significant growth market, highlighting countries like Brazil. Additionally, he remarked on the potential for consolidation in airport ground handling services on a global scale.

Established in 1959, dnata operates as a sister company to Emirates airline, offering services such as catering to airlines and handling baggage and cargo. They also manage businesses involved in selling holiday packages and providing travel booking services for retail and corporate clients. According to the Emirates Group's annual report released, dnata's profit for the fiscal year ending on March 31 increased more than fourfold to $381.2 million.

The surge in revenue, which rose by nearly 30% to 19.2 billion dirhams, was attributed to increased flight operations and global travel. Allen informed journalists that these results were partly due to long-term contracts renegotiated by dnata, accounting for higher labour and food expenses.

Regarding the recent severe storm in the United Arab Emirates, which disrupted operations at Dubai's airport and led to numerous flight cancellations, Allen stated that the financial impact was relatively minor. However, any effects would be reflected in their current fiscal year, which commenced in April.

The Emirates Group announced a 71% increase in annual profit, reaching a record 18.7 billion dirhams, and declared a dividend of 4 billion dirhams for its owner, Dubai's sovereign wealth fund ICD.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..