Finnair Cargo’s revenue grew 13.5% year-on-year to €197.4 million (US$243.6 million) in 2017, according to Finnair’s annual report.

According to the report, 2017 was the fastest year of growth in the 94-year history of the airline. Overall revenue increased by 10.9% to €2.57 billion (US$3.17 billion), and the operating result more than tripled to an all-time high of €170.4 million (US$210.2 million). Finnair Cargo accounted for 7.7% of Finnair’s total revenue for the year.

Finnair carried 157,028 tonnes of cargo in 2017, a year-on-year increase of 8.6%. Available cargo tonne kilometres grew by 6.5%, while revenue cargo tonne kilometers grew by 11%. Asia was the dominant market for the cargo division, having accounted for 74.5% of the revenue in 2017.

In December 2017, Finnair Cargo officially inaugurated its new COOL Nordic Cargo Terminal at Helsinki Airport, enabling the carrier to increase cargo volumes and the handling of special cargo such as perishables and pharmaceuticals, which will become the key margin driver.

The new terminal is equipped with 1,200 solar panels generating up to 254MWh of electricity per year, in pursuit of Finnair’s commitment to reducing energy consumption at its properties by 7% from 2016 to 2025.

At the end of 2017, Finnair had 11 Airbus A350-900s in its fleet. The airline is scheduled to take delivery of eight remaining A350-900s between 2018 and 2023, for an overall widebody fleet of eight A330-300s and 19 A350-900s.