UAE’s Etihad Cargo reports 6% revenue growth in H1 2022

Etihad Cargo has announced robust results for the first half of 2022, achieving year-on-year revenue growth of 6 per cent compared to H1 2021 and contributing 35 per cent of Etihad Aviation Group’s operating revenue.

Cargo operations delivered revenues of $802m in the first half of 2022. Revenues remained strong despite the increase in passenger volumes limiting belly-hold capacity, leading to a 19 per cent reduction in freight carried (295,020 tonnes).

According to the state news agency, WAM, in addition to recording an increase in overall revenue, Etihad Cargo maintained a strong rate of 86 per cent, a 2 per cent increase compared to its 2021 full-year results, along with an 83 per cent freighter on-time performance (OTP) rate despite the challenging handling environment across the network.

Growth was seen across a number of premium products in the first half of 2022. For example, the performance of PharmaLife, Etihad Cargo’s dedicated pharmaceutical shipment solution, increased by 46 per cent compared to H1 2021.

Contributing to this growth have been the new developments Etihad Cargo has launched to enhance its PharmaLife capabilities, including improved thermal covers that dramatically increase the protection of pharmaceutical cargo during aircraft loading and offloading.

The company also posted a 52 per cent increase in the performance of its LiveAnimals product, for which the carrier was awarded International Air Transport Association (IATA)’s Center of Excellence for Independent Validators (CEIV) Live Animals certification in 2022.

Martin Drew, SVP Global Sales & Cargo of Etihad Aviation Group, commented, “The growth Etihad Cargo has achieved across its PharmaLife and LiveAnimals products have been made possible by the hard work and commitment of dedicated teams that have thrived on the challenge of providing world-class cargo solutions to customers.”

Etihad Cargo’s network currently offers cargo capacity to 79 destinations across Europe, Asia, Africa, Australia and the Americas with 564 weekly rotations.

In recent news, Etihad Airways announced its financial and operating results for the first half of 2022, posting a core operating profit of $296m.

Read: Etihad Airways announced its financial and operating results for H1 2022, posting a core operating profit of $296m