FlyingTypers Logo
40th Anniversary Ad
   Vol. 16 No. 46
Wednesday May 17, 2017

Emirates Group Posts Profits


     Emirates Group (EG) posted an AED 2.5 billion (U.S. $670 million) profit for the financial year ending March 31, 2017, down 70 percent from 2016.
      Revenue reached AED 94.7 billion (U.S. $25.8 billion), an increase of 2 percent over last year’s results.
      Emirates Group’s cash balance decreased by 19 percent to AED 19.1 billion (U.S. $5.2 billion) “mainly,” EG said, “due to the repayment of two bonds on maturity and ongoing high investments into its fleet and aircraft related assets.”
      Emirates SkyCargo accounted for 13 percent of the airline’s total transport revenue.
      Revenue of AED 10.6 billion (U.S. $2.9 billion), marked a decline of 5 percent over last year, while tonnage carried slightly increased by 3 percent to reach 2.6 million tons.
      FTKM decreased by 8 percent, reflecting the strong downward trend across the industry, and the weakening of major currencies against the U.S. dollar.
      SkyCargo’s total freighter fleet remained unchanged, with 15 aircraft: thirteen Boeing 777Fs and two Boeing 747-400Fs.
      In addition to belly-hold capacity to Emirates’ new passenger destinations, Emirates SkyCargo launched new freighter services to Phnom Penh (Cambodia), as well as new links between Dubai-Oslo and Delhi-Hong Kong. During 2016-17, Emirates SkyCargo inaugurated Emirates SkyPharma, anchored by a 4,000-square meter, purpose-built facility dedicated to handling temperature sensitive pharmaceutical shipments at Dubai International Airport. Emirates SkyCargo also launched White Cover Advanced, a protection solution designed for temperature-sensitive cargo.

Publisher-Geoffrey Arend • Managing Editor-Flossie Arend •
Film Editor-Ralph Arend • Special Assignments-Sabiha Arend, Emily Arend • Advertising Sales-Judy Miller

fblogoSend comments and news to geoffrey@aircargonews.com
Opinions and comments expressed herein do not necessarily reflect the views of the publisher but remain solely those of the author(s).
Air Cargo News FlyingTypers reserves the right to edit all submissions for length and content. All photos and written material submitted to this publication become the property of All Cargo Media.
All Cargo Media, Publishers of Air Cargo News Digital and FlyingTypers. Copyright ©2017 ACM, Inc. All Rights Reserved.
More@ www.aircargonews.com

recycle100% Green