AFCOM Holdings Limited is an India-based standalone freighter airline and integrated air cargo solutions provider operating Boeing 737-800BCF aircraft to offer airport-to-airport cargo services across India, Southeast Asia and select international markets, specialising in general cargo, perishables, pharmaceuticals, express and time-critical charters.

AFCOM recorded rapid top-line traction with total income rising from FY22 to FY25 and strong early FY26 momentum: FY25 revenue of ₹24,254 lakhs and FY26 H1 reported at ₹24,380 lakhs, supported by higher trip frequency, expanding yield and improving EBIDT and PAT margins, signaling meaningful operating leverage as fleet utilisation increases.

The business model blends dedicated freighter capacity, bespoke charter services, bonded trucking for first/last mile, and transshipment hubs (Bangkok, Hanoi, Maldives). AFCOM’s operational strengths are reflected in awards and recognition, membership of IATA and other bodies, and a BBB+ credit rating assigned in January 2026.

AFCOM’s unit economics show healthy yields and improving profitability: average yield moved from USD 2.49 to 2.56 during Q1–Q3 2026 periods, EBIDT margins persistently high around mid-to-high twenties, but the cost base remains fuel-intensive and lease-dependent, making fuel and lease terms key variables for future margin sustainability.