Emirates cargo revenue up 27% to $5.8bn on rising demand
Emirates reported a 27% increase in cargo revenue to AED21.7 billion ($5.8 billion) for 2021-22 due to strong demand for essential goods and medical supplies, recovery programs accelerated vaccinations and global supply chain issues.
Cargo revenue accounted for 37% of total revenue of AED58.3 billion ($15.7 billion), compared to 57% last year (AED17.1 billion on revenue). total business of AED 30.2 billion).
“Cargo volumes increased by 14.2% to 2.1 million tonnes (2020-21: 1.9 million tonnes) and reached almost 90% of the FY19-20 level,” according to the 2021-22 annual results.
“As passenger travel has increased, cargo hold capacity has also increased, allowing scheduled operations to contribute 59% (2020-21: 38%) of total cargo tonnage carried this year. A reduction was seen in cargo tonnage for cargo operations due to aircraft retirement. and moving volumes to regular operations. Overall, FTKM increased by 30.6% to 12.7 billion (2020-21: 9.8 billion) as we maintain our strong position in the air cargo industry. Yield per FTKM remained robust at 170 fils per FTKM (2020 -21: 175 fils per FTKM).”
dnata returns to profit
dnata’s total revenue increased by 54% to reach AED8.6 billion ($2.3 billion), and international business accounted for 62% of its revenue.
“dnata returned to profitability with a profit of AED110 million ($30 million) in 2021-22.”
dnata continued its investments in 2021-22 for an amount of AED370 million ($101 million). “During the year, dnata invested significantly in its cargo handling capabilities. It expanded its existing facilities in Sydney, Australia, opened a state-of-the-art cargo center at London Heathrow Airport and announced the construction of a fully automated cargo center at ‘dnata Cargo City’ at London Airport. ‘Amsterdam-Schiphol. It has also introduced an advanced “OneCargo” system that digitizes and automates the commercial and operational functions of its cargo operations in Iraq, with plans to roll out the system across its global cargo network. »
The number of aircraft rotations handled by dnata globally increased by 82% to 527,501 and cargo handled increased by 10% to three million tonnes.
In 2021-2022, dnata expanded its global footprint of airport operations in Africa. It has signed a concession agreement with the government of Zanzibar, under which dnata will oversee the operations of the newly built international terminal on the island with its partners.
Group loss drops to $1 billion
The Emirates Group reported a loss of AED3.8 billion ($1 billion) due to the continued impact of the Covid-19 pandemic, but performance was a significant improvement from the loss of AED22.1 billion ($6 billion) from last year.
“The group’s revenue amounted to AED66.2 billion ($18.1 billion), an increase of 86% over last year’s results. group was AED25.8 billion ($7 billion), up 30% year-on-year, primarily due to strong demand in core business divisions and markets, triggered by the easing of pandemic-related restrictions,” according to the announced results.
Sheikh Ahmed bin Saeed Al Maktoum, President and CEO of Emirates Airline and Group, said: “This year we have focused on restoring our operations quickly and safely wherever pandemic-related restrictions have arisen. eased in our markets. The business recovery has accelerated, particularly in the Strong customer demand has resulted in a significant improvement in our financial performance from our unprecedented losses of last year and we have strengthened our strong cash balance.
“Across Emirates and dnata, we have responded with agility to dynamic market conditions and introduced innovative products and services to meet our customers’ needs and provide them with the best possible experience.”
In 2021-22, Emirates received a further capital injection of AED3.5 billion ($954 million) from the Government of Dubai, and the group has tapped into various industry support programs and benefited total relief of nearly AED0.8 billion ($216 million) in 2021.-22, the statement added.