India a prime market for cargo carriers

WITH AN airfreight market pegged to grow at an annual rate of 18% and exports expected to touch US$150 billion by 2008-09, India is now a prime market for cargo carriers, Ram Menen, Emirates divisional senior vice president, cargo, told delegates at Air Cargo India 2006 in Mumbai recently. As proof of the country’s increasing importance, he pointed out that US-based mega-retailer Wal-Mart had sourced Indian products worth nearly US$2 billion during 2004. Alluding to Emirates’ expansion strategy, he said the next few years would see the arrival of eight Boeing 777 freighters and 10 Boeing 747-8 freighters, the first of which will be joining the fleet in 2008. The carrier has also signed an options agreement for an additional 10 747-8Fs. The airline currently has 100 aircraft in its fleet while the total value of aircraft now on its order books amounts to more than US$30 billion.