Etihad Cargo Posts Record Mid-Year Revenue
Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, has announced record-breaking results for the first half of 2022, achieving year-on-year revenue growth of 6% compared to H1 2021 and contributing 35% of Etihad Aviation Group's operating revenue.
In addition to recording an increase in overall revenue, Etihad Cargo maintained a strong Delivered as Promised rate of 86%, a 2% increase compared to its 2021 full-year results, along with an 83% freighter On Time Performance (OTP) rate despite the challenging handling environment across the network.
Etihad Cargo saw growth across a number of premium products in the first half of 2022. For example, the performance of PharmaLife, Etihad Cargo's award-winning, dedicated pharmaceutical shipment solution, increased by 46% 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.
Etihad Cargo also posted a 52% 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, Senior Vice President Global Sales & Cargo of Etihad Aviation Group, commented, "The growth Etihad Cargo has achieved across its PharmaLife and LiveAnimals products has 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 commitment to expanding capabilities has been demonstrated through the carrier's ongoing investment in infrastructure and solutions that ensure cargo is transported safely and in compliance with international standards."
Etihad Cargo also reported an 81% electronic airway bill penetration rate, demonstrating the carrier's continued investment in digitalisation.
To further enhance its customers' booking journey, Etihad Cargo added more features to its new online booking portal in 2021, which resulted in 57% more bookings made via the portal.
The carrier also launched a Mandarin version of its website and booking portal, cementing Etihad Cargo's strategic footprint in China. This key market contributes over 20% of the carrier's operations.
As part of Etihad Aviation Group's vision to achieve net zero emissions by 2050, Etihad Cargo has embarked on several sustainability projects.
The carrier entered into an agreement with B Medical Systems to develop and launch the industry's first airline-specific passive temperature-controlled container units for the transportation of pharmaceuticals.
Etihad Cargo has also replaced original aluminium unit load device (ULD) containers with environmentally friendly, lightweight ULDs, which can provide a weight-saving of over 200 kilogrammes, lowering fuel consumption and CO2 emissions.
Drew concluded: "Following these positive mid-year results, Etihad Cargo remains committed to working closely with partners and customers to ensure the carrier remains their air cargo partner of choice.
"Etihad Cargo will continue to expand operations and add key routes to fully support the capacity demands of customers."
The carrier has been recogised for its performance and contribution to the wider air cargo industry, winning several awards including Most Innovative Air Cargo Airline at the Transport & Logistics Middle East Innovation Awards 2022.