Emirates SkyCargo yields revenue of $3.1 billion in 2019-20
Emirates’ cargo division reported a revenue of AED 11.2 billion (US$ 3.1 billion), a decrease of 14 percent over last year.
Emirates SkyCargo contibuted to 13 percent of the airline’s total transport revenue. With the lingering weakness in air freight demand over most of the year, Emirates’ cargo division reported a revenue of AED 11.2 billion (US$ 3.1 billion), a decrease of 14 percent over last year.
Freight yield per Freight Tonne Kilometre (FTKM), after two consecutive years of growth, declined by 2 percent, largely impacted by the reduction in fuel price, and a strong US dollar.
Tonnage carried decreased by 10 percent to reach 2.4 million tonnes, due to the capacity reduction with the retirement of one Boeing 777 freighter and reduced available bellyhold capacity in the first and last quarters of the year. At the end of 2019-20, Emirates’ SkyCargo’s total freighter fleet stood at 11 Boeing 777Fs.
Emirates SkyCargo continued to develop innovative, bespoke products. In October, it launched Emirates Delivers, an e-commerce platform that helps individual customers and small businesses consolidate online purchases in the US and have them delivered in the UAE. More origin and destination markets are being planned in the future, leveraging Dubai as a hub for regional e-commerce fulfilment. During the year, Emirates Skycargo also strengthened its pharma capabilities with the opening of new facilities in Chicago and Copenhagen.