Monday, 4 November 2013

Etihad Cargo reports Q3 growth of 41%

Continuing its recorded growth throughout 2013, Etihad Cargo, the freight division of UAE's national airline Etihad Airways, has recorded a significant surge in volume for the third quarter. The Abu Dhabi-based carrier moved 132,448 tonnes of freight from July-September - a year-on-year increase of 41% compared to 2012.

Freighter side shot
An Etihad freighter craft
Revenue did not lag far behind volume in terms of performance: the carrier saw year-on-year sales increase by 39% to $244 million. Chief Executive Officer of Etihad Cargo James Hogan commented that the growth "occurred in a climate of increasing capacity and ongoing price competition. It also compensated for the reduced travel during the holy month of Ramadan". 

Taking the year-to-date volume and revenue figures as a whole, cargo handled is up 30% and revenue up 26% compared to 2012. Etihad's success is one illustration of how, in what is globally a challenging time for air freight, the Middle Eastern region is one of the few markets experiencing growth. 

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