Etihad Cargo delivers record tonnage for July
Etihad Cargo has posted record monthly figures for July with network volumes approaching 33,000 tonnes, an increase of 18 per cent on the same month last year. The figures surpass a previous month record of 31,700 tonnes, which Etihad Cargo carried in March 2012.
Total revenues for the month were up 4 per cent on June and up 8 per cent on the corresponding period the previous year.
Last month Etihad Cargo reported strong H1 2012 results, with tonnage up 21 per cent to 175,000 tonnes.
Etihad Airways chief planning and strategy officer, Kevin Knight, said: “We’ve seen a good recovery in business from Europe after the second quarter. Also, the capability of our fleet with the addition of the 747-400 freighter has enhanced our overall schedule flexibility, and helped support significant project work in what was also a record month for our Charter team.
“Business across and through the Middle East has remained strong into the Holy Month of Ramadan.
“New routes including our recently launched 6-times a week passenger service to Lagos and our new freighter service to Dammam have broadened the reach for our customers.
“Looking ahead, we expect to maintain strong freight performance over the third and fourth quarters of 2012.”
Analyst Saj Ahmad commented: "Despite the generally depressed state of global freight traffic, Etihad Cargo has been making big moves alongside its passenger operation in growing its freighter business. A rise of 18% in volume in July compared to the same month a year ago proves that the airline is taking advantage of regional strength in markets that may well be suffering economically - they're filling a gap that others seem reluctant to step in and cater for.
“Notwithstanding the already robust intra-GCC traffic growth, cargo movements here have been growing enough to warrant the addition of two further Boeing 777Fs for Etihad Cargo.
It's clear that Etihad is keen to leverage its passenger network growth and grow its freighter operation too, particularly as revenues have risen by some 8% year-on-year."