Emirates SkyCargo H1 volumes tumble 8pc to 1.2m tonnes amid tough market
EMIRATES SkyCargo's air freight volumes in the first half of the year dropped by eight per cent year on year to 1
EMIRATES SkyCargo's air freight volumes in the first half of the year dropped by eight per cent year on year to 1.2 million tonnes on the back of difficult market conditions and a runway refurbishment in Dubai.
'This reflects the tough business environment for air freight in the context of global trade tensions and unrest in some key cargo markets,' the Emirates Group said in a statement.
Performance was also impacted by the 45-day runway closure at Dubai International Airport at the beginning of the year, which had a knock-on effect for Emirates Group's ground handling arm, dnata, which saw cargo volumes drop by six per cent against last year to 1.5 million tonnes, reported Logistics Middle East, Dubai.
In the United Arab Emirates, dnata's acquisition of freight forwarding company Dubai Express helped boost its revenues in the first half year of 2019-20, and helped offset the impact of losses due to the runway closure.
Looking at the overall half-year financial performance, revenues at the Emirates Group fell by two per cent year on year to US$14.5 billion, although profits rose by eight per cent to $320 million.
The improved result was attributed to 'increased agility in capacity deployment, with healthy customer demand for Emirates' products driving improved seat load factors and better margins.'