Emirates SkyCargo stayed on growth course in 2012/13
Emirates Group announces 25th consecutive year of profit; Emirates Sky Cargo shipping more than 2 million tonnes of cargo for the first time
Emirates SkyCargo continues on the upgrade. Defying the industry trend, the 2012-13 financial year has been a strong one for Emirates SkyCargo, who for the first time reported a revenue reaching the US$ 2.8 billion-mark, an 8 per cent increase over last year. Emirates SkyCargo’s tonnage increased 16 per cent reaching 2.1 million tonnes in a shrinking airfreight market. This year, freight yield per freight tonne kilometre (FTKM) decreased by 6 per cent.
Notwithstanding, the Emirates Group has achieved it 25th consecutive year of profit in the 2012-13 financial year, and company-wide growth ending the year in a strong position despite continuing high fuel prices and a weak global economic environment. The company posted an US$ 845 million net profit, up 34 per cent from last year. The group’s revenue reached US$ 21.1 billion, an increase of 17 per cent over last year’s results. As of March 31, 2013, the Group employed 68,000 staff across more than 80 companies, representing over 160 different nationalities.
“Achieving our 25th consecutive year of profit in a financial year with our largest ever increase in capacity across the network is an achievement that speaks to the strength of our brands and our leadership,” His Highness (H.H) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said about the economic development in the past fiscal year.
Throughout the 2012-13 financial year the Emirates group has invested a total of more than US$ 3.8 billion in new aircraft, products, services and handling facilities as well as the newly opened JW Marriott Marquis Hotel in Dubai. Emirates has put into service 34 new aircraft. Overall capacity measured in available tonne kilometres (ATKMs) increased by 5.5 billion tonne-kilometres. Other significant capacity increases include launching 10 new destinations, shipping more than 2 million tonnes of cargo for the first time and carrying an additional 5.4 million passengers over last year, the highest increase in a financial year. In the 2012-13 financial year Emirates’ fuel bill increased by 15 per cent over last year to reach US$ 7.6 billion, with total operating costs increasing by 16 per cent.
Emirates revenue reached a record high of US$ 19.9 billion growing by 17 per cent compared to the 2011-12 financial year. The airline achieved profit of US$ 622 million and carried 39.4 million passengers. Europe, up 18 per cent to US$ 5.5 billion and the Americas up 24 per cent to US$ 2.3 billion saw the most significant growth, reflecting new destinations as well as increased frequency and capacity to these regions.
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