Emirates sees profits slump and cargo revenue decline

© Arseniy Rogov

Emirates SkyCargo saw cargo revenues decline in its full year ending 31 March, despite carrying higher volumes. The carrier reported revenues of AED10.6bn, ($2.88bn) for the year, accounting for 13% of the airline’s total transport revenue. However, cargo revenue fell 4.9% from a year earlier, although it carried 2.57m tonnes, 2.7% more than the previous year.

The carrier said: “This decline resulted from a combination of a fall in prices and depreciating exchange rate effects which were offset, to an extent, ...