Cargo softens first non-profitable year
With a loss of AED 22.1 billion (USD 6.0 billion), 2020-21 was Emirates Group's first non-profitable year in over three decades.
With the strong demand in air freight throughout the year, Emirates Skycargo reported a revenue of AED 17.1 billion (USD 4.7 billion), an increase of 53% year-on-year, contributing to 60% of the airline’s total transport revenue. Freight yield per FTKM increased by 88%. Tonnage carried reached 1.9 million t (-22%).
Emirates’ total freighter fleet remained unchanged at eleven B777Fs. The freight division quickly scaled up operations and rebuilt its cargo network to meet strong demand from shippers. It supplemented its existing freighter capacity by bringing into service 19 "mini freighters" - modified B777-300ER passenger aircraft with seats in the economy cabin removed. (ah)