Emirates' cargo revenue up 5.6pc to US$3.6 billion as volume rise 1.4pc
DUBAI's Emirates SkyCargo's annual freight revenues increased 5
DUBAI's Emirates SkyCargo's annual freight revenues increased 5.6 per cent year on year to AED13.1 billion (US$3.6 billion) as volumes rose 1.4 per cent to 2.7 million tonnes.
Freight tonne kilometres (FTK) increased by 2.3 per cent to 13.7 billion and the yield per FTK increased by 2.7 per cent over the previous year 'resulting from a better cargo tariff mix'.
Said group chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum: 'Demand for air cargo faced significant headwinds and according to IATA, global economic activity and consumer confidence weakened by March this year.'
The purchasing managers index (PMI) indicated falling global export orders since September 2018. 'Political posturing and slow progress on pressing global issues, including several ongoing trade wars, Brexit and the refugee crisis, conspired to bog down the global economic outlook even further,' he said.
Said Emirates Airline president Sir Tim Clark: 'Emirates SkyCargo bucked the trend and did us proud with a strong performance in a highly competitive market with weak demand. The division contributed 14 per cent of the airline's total transport revenue and played a role in expanding our network.'
Dnata, which includes passenger ground handling, catering services and cargo handling, saw revenue and other operating income increase 10.3 per cent to AED14.4 billion.
Said Group services and dnata chief Gary Chapman: 'We have become owner of Dubai Express, Freightworks LLC and a 51 per cent majority stakeholder of Bollore Logistics LLC, UAE that operates in 106 countries.
'Our new global cargo management system One Cargo is set to automate our key business and operational functions, including ULD management, quality monitoring and mail management, through real-time info. By 2020, more than 5,000 employees across 27 stations in 10 countries, from the US to Australia, will use One Cargo.'