Revenue grows 17% in 2017/18 year at Emirates SkyCargo

posted on 9th May 2018 by Justin Burns
Revenue grows 17% in 2017/18 year at Emirates SkyCargo

Emirates SkyCargo has reported a revenue of AED 12.4 billion ($3.4 billion) for the 2017/18 financial year – making up 14 per cent of the Emirates Group’s overall revenues.

This was a 17 per cent increase on the previous year and the Dubai-based carrier also posted a tonnage rise of two per cent in the year to 2.6 million tonnes.

Emirates SkyCargo’s freight yield per freight tonne kilometre (FTKM) increased by 14 per cent, which it said reflected a “very positive market environment for the industry”, and the weakening of the US dollar against major currencies.

In the 2017/18 year, Emirates SkyCargo launched new freighter routes to Maastricht in the Netherlands, Luxembourg and Puerto Rico, utilising 13 Boeing 777Fs and the vast belly fleet of sister carrier Emirates, which also continued to add routes.

Yesterday, Emirates announced it was to fly daily to Edinburgh Airport from October, using a Boeing 777, while other services have been added around the globe.

The Emirates Group as a whole also achieved record revenue in the 2017/18 financial year at AED 100 billion ($27.2 billion) with a profit of AED 2.8 billion ($762 million), 124 per cent better than 2016/17.