Dubai-based Emirates reported full year 2013/14 profit up 42.5% to US$965 million, as total revenue rose 13.0% to $22.4 billion (of which $21.0 was from airline operations). Operating profit for the year, which ended 31 March, was $1.16 billion.
Cargo revenue increased 8.9% over the previous year to $3.07 billion, accounting for 14.6% of total airline revenue. Cargo traffic for the year was up 10.1% to 10.21 billion RTKs, and cargo volume was up 7.9% to 2.25 million tonnes. Yield, however, was down 1%.
In addition to belly space in its large, and growing, widebody passenger fleet, Emirates operates twelve 777Fs, and ACMI leases two 747-400ERFs from TNT Airways. It has three more 777Fs on firm order. Dnata, the Emirates Group’s cargo handling subsidiary, reported revenue up 8.3% to $327 million, as its handle rose 2.2% to 160 million tonnes.