Etihad defies Eid slowdown with record cargo

Etihad Cargo carried a record load last month, while rivals faced the prospect that a recent improvement in worldwide air freight had stalled.

The division carried 32,500 tonnes in October, a 15 per cent increase on the same period a year ago. The figure was 2.2 per cent higher than in September.

"The impressive tonnage was achieved despite the dampening effect of the holidays for the Eid Al Adha celebration, which was offset by a big rise in demand for freight services in the Asia-Pacific region, the [Indian] subcontinent and the United Kingdom," said Kevin Knight, the chief strategy and planning officer for Etihad.

The division carried 93,560 tonnes of air freight in the third quarter, up 18 per cent on last year.

The optimistic figures were not matched by rival carriers abroad, however.

"Cargo profitability has come under downward pressure [in the third quarter], with the minor improvement in air freight demand in [the first half of the year] stalling, yields declining and oil prices surging once again," said a third quarter cargo e-chartbook report from the International Air Transport Association (Iata). But the overall outlook for cargo continues to look bleak, according to a survey of industry executives in July. "Cargo yields are expected to decline over the next 12 months, and traffic to increase only modestly," said the Iata report.

Etihad, however, expects its growth in cargo to continue into the last quarter. "Looking ahead, we expect to maintain strong freight performance over the final quarter of 2012," said Mr Knight.

The news rounds off a good week for Etihad, which was named Airline of the Year at the sixth annual Aviation Business Awards in Dubai.

It is the second time the airline has picked up the award, which it last won in 2010.

"For Etihad Airways being named Airline of the Year is the icing on the cake in what has been a record-breaking 12 months for us," said the chief commercial officer at Etihad, Peter Baumgartner.

Flydubai, the emirate's low-cost airline, received the Outstanding Contribution to Aviation trophy, while maintaining its status as the Low Cost Airline of the Year.

The ceremony included 12 categories, which were judged by five experts from within the Middle East aerospace industry.

gduncan@thenational.ae