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.
Geoffrey