Emirates SkyCargo saw both its revenues and cargo tonnage increase in its past financial year as it expanded its freighter fleet and network.
In the financial year running to 31 March, the cargo division of the wider Emirates group registered a slight increase in cargo revenues to AED16.2bn from AED16.1bn in the prior year.
Meanwhile, cargo volumes increased 2.5% year on year to 2.4m tonnes thanks to additional freighters.
The all-cargo element of the business saw volumes increase by 11.7% year on year to 637,000 tonnes, while scheduled cargo carried was down 0.4% to 1.8m tonnes.
General cargo, fresh produce and charter operations were “notable contributors” to volume performance this year.
Cargo yield per freight tonne km was down 3% year on year due to market pressure and the impact of tariffs, in particular on e-commerce, and expanded industry capacity weighed on pricing in certain markets.
The company said that it had benefited from the delivery of five new Boeing 777 freighters during the financial year, which had grown its all-cargo capacity by 13% year on year. Meanwhile, two older freighters were retired.
The airline also utilised an additional two wet-leased Boeing 747 freighters during the year on average, compared with the previous year.
At the end of March, Emirates’ SkyCargo’s total freighter fleet stood at 13 777Fs, with eight more units pending delivery.
Work has also begun on converting one of its passenger 777s into a cargo configuration.
During the year, SkyCargo expanded its freighter network to 44 points with the addition of Bangkok, Budapest, Liege, and Tokyo Narita; added frequency to existing freighter routes; and grew its trucking network.
“Despite fluctuations across global logistics, we delivered a solid performance in 2025-26,” the company said in its annual report.
“The division continued its strategy of offering tailored cargo solutions as a key differentiator and value proposition.
“This year, it launched Emirates Courier Express – an innovative door-to-door cross-border delivery solution; and a new Aerospace and Engineering suite of specialist services to transport time-critical components for the aviation, engineering, defence and space industries.”
Dnata performance
Meanwhile, the Emirates Group’s ground handling business, dnata, saw cargo handling revenue rise by 10% year on year to AED3.4bn and cargo volumes increase by 2.1% to 3.2m tonnes.
The company said the improvement in revenues was supported by pricing and aircraft mix optimisation, the acquisition of Wymap Group, an air cargo trucking specialist in Australia and New Zealand, and strong e-commerce momentum across the UAE and the UK.
In Amsterdam, dnata opened a new and fully automated cargo facility, one of the largest of its kind, with an annual capacity of 600,000 tonnes, representing a €70m investment.
Cargo volumes were also boosted by new contracts and increased flight activity by dnata’s airline customers across markets, particularly in its international operations.
Middle East conflict
On the impact of the Middle East conflict, Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates airline and Group, said: “We are fortunate to be based in Dubai, where years of infrastructure investments and a cohesive aviation ecosystem has enabled the government to quickly secure safe corridors for commercial flights.
“Emirates and dnata have since gradually restored operations at DXB. Although we are still operating at a lower passenger capacity than pre-disruption, cargo operations have ramped up to support the movement of essential goods into and through the UAE.”
On the impact of jet fuel price rises, he added: “From a fuel perspective, Emirates is well-hedged until 2028-29; and we have worked with our suppliers to secure the volumes required to support our current operations and our scaling up to pre-disruption levels. ”
