AIR Canada saw 18 per cent year on year cargo revenue growth in the third quarter of 2024, primarily due to thriving belly cargo in the Pacific market.
Revenues reached CAD253 million (US$182 million) during the quarter ended September 30, up from CAD215 million during the third quarter of 2023, said the Montreal-headquartered airline.
In its third quarter management's discussion and analysis document, air Canada said the cargo revenue hike was 'primarily due to higher yields and volumes of chargeable kilos of cargo in passenger aircraft in the Pacific market'.
The airline added: 'To a lesser extent, higher freighter revenues in the Americas also contributed to the increase. This was partially offset by lower belly cargo revenues and freighter revenues in the Atlantic.'
During the third quarter 2024 earnings call transcript, Mark Galardo, executive vice president, revenue & network planning and president, cargo, commented that the airline had 'surpassed expectations on our 767 freighter operation'.
He added: 'Our right-sized network and freighter to belly commercial model are producing solid financial results that we believe are sustainable in the long run. We're confident that cargo will continue performing.'
One major development highlighted by Michael Rousseau, president and chief executive, was that Air Canada had now reached a new four-year collective agreement with pilots represented by the ALPA union, following a pay dispute that almost resulted in strike action.
Air Canada recorded operating revenues of CAD6.1 billion in the third quarter, down 4 per cent year on year, reports London's Air Cargo News.
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Revenues reached CAD253 million (US$182 million) during the quarter ended September 30, up from CAD215 million during the third quarter of 2023, said the Montreal-headquartered airline.
In its third quarter management's discussion and analysis document, air Canada said the cargo revenue hike was 'primarily due to higher yields and volumes of chargeable kilos of cargo in passenger aircraft in the Pacific market'.
The airline added: 'To a lesser extent, higher freighter revenues in the Americas also contributed to the increase. This was partially offset by lower belly cargo revenues and freighter revenues in the Atlantic.'
During the third quarter 2024 earnings call transcript, Mark Galardo, executive vice president, revenue & network planning and president, cargo, commented that the airline had 'surpassed expectations on our 767 freighter operation'.
He added: 'Our right-sized network and freighter to belly commercial model are producing solid financial results that we believe are sustainable in the long run. We're confident that cargo will continue performing.'
One major development highlighted by Michael Rousseau, president and chief executive, was that Air Canada had now reached a new four-year collective agreement with pilots represented by the ALPA union, following a pay dispute that almost resulted in strike action.
Air Canada recorded operating revenues of CAD6.1 billion in the third quarter, down 4 per cent year on year, reports London's Air Cargo News.
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