Emirates Sky Cargo reports yields back to 2008 level
Emirates Sky Cargo Divisional Senior Vice-President, Ram Menen, stated the yields have gone back to 2008 levels, with the recovery commencing in Oct-2009 (Emirates Business 24/7, 13-May-2010).
Emirates Sky Cargo: “The drop in cargo was so sudden last year, it just created panic in the market. There was a lot of excess capacity last year. Naturally, you get a heavy hit on the yield. Ours was about 20% down but compared to the market we are better than others. The market started recovering by October last and the yields too started improving. The market continues to improve and today we have gone back to 2008 levels. We definitely are on a high growth path. If we have grown in double digits in the worst kind of crisis, there is no reason why we would not be doing better going forward. Also the opening of the Al Maktoum International Airport will have quite a bit of pull effect on cargo through Dubai. India was a very strong market for us during the crisis and that sustained our operations quite a bit. Actually India, Pakistan, Sri Lanka, Indonesia and the whole of the Far Eastern markets were the bright spots. China and India are going to be two major manufacturing areas. As the markets change, it gives us the flexibility to move our capacity to where it is needed. And at the end of the day our concentration is to move the capacity to where it is needed at the right time and at the right place,” Ram Menen, Divisional Senior Vice-President. Source: Emirates Business 24/7, 13-May-2010.