AIR Canada posted an 11 per cent year-on-year revenue gain to US$3.9 billion in 2023 revenue, but lost $32.6 million versus a loss of $162 million the year before
But profit before interest, taxes, depreciation and amortisation came in at $386.4 million - below expectations.
air Canada expects the slow recovery in cargo volume that began in the fourth quarter to quicken in 2024, aided by the addition of two more freighter aircraft, reports New York's FreightWaves.
But the carrier does not expect gains in pricing power, said Mark Galardo, executive vice president for network planning.
The cargo division within Air Canada currently operates five converted and two factory-built Boeing 767-300 freighters.
It is also scheduled this year to receive two cargo jets converted from passenger configuration, but delivery of a third plane has been delayed until 2025 because of lingering supply chain and labour challenges faced by aerospace manufacturing companies, said Mr Galardo.
The company nonetheless expects cargo capacity to increase six to eight per cent this year with the addition of the two freighters and more passenger aircraft that also carry cargo.
The converted freighters are retired Air Canada passenger jets that are being retrofitted by aftermarket aerospace firms for carrying large containers in the main cabin area.
Cargo revenue fell 15 per cent year on year in the fourth quarter to $181 million on soft demand and lower yields, Air Canada reported. The three-month period represented an improvement from prior months as the downturn in freight transportation that gripped the air logistics industry for nearly 18 months began to ease. Full-year cargo revenue fell 27 per cent to $253.7 million.
At the end of 2023, Canada's flag carrier operated four more 767 freighters than at the end of 2022. Freighters were reintroduced at the company two years ago. Increased freighter operations to Central and South America and to Europe partially offset the year-on-year decline.
Air Canada also enhanced its interline cooperation with Emirates SkyCargo, which allows customers to book interline cargo shipments through the Emirates SkyCargo flights, including between the Americas and Southeast Asia and India, through key European hubs.
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But profit before interest, taxes, depreciation and amortisation came in at $386.4 million - below expectations.
air Canada expects the slow recovery in cargo volume that began in the fourth quarter to quicken in 2024, aided by the addition of two more freighter aircraft, reports New York's FreightWaves.
But the carrier does not expect gains in pricing power, said Mark Galardo, executive vice president for network planning.
The cargo division within Air Canada currently operates five converted and two factory-built Boeing 767-300 freighters.
It is also scheduled this year to receive two cargo jets converted from passenger configuration, but delivery of a third plane has been delayed until 2025 because of lingering supply chain and labour challenges faced by aerospace manufacturing companies, said Mr Galardo.
The company nonetheless expects cargo capacity to increase six to eight per cent this year with the addition of the two freighters and more passenger aircraft that also carry cargo.
The converted freighters are retired Air Canada passenger jets that are being retrofitted by aftermarket aerospace firms for carrying large containers in the main cabin area.
Cargo revenue fell 15 per cent year on year in the fourth quarter to $181 million on soft demand and lower yields, Air Canada reported. The three-month period represented an improvement from prior months as the downturn in freight transportation that gripped the air logistics industry for nearly 18 months began to ease. Full-year cargo revenue fell 27 per cent to $253.7 million.
At the end of 2023, Canada's flag carrier operated four more 767 freighters than at the end of 2022. Freighters were reintroduced at the company two years ago. Increased freighter operations to Central and South America and to Europe partially offset the year-on-year decline.
Air Canada also enhanced its interline cooperation with Emirates SkyCargo, which allows customers to book interline cargo shipments through the Emirates SkyCargo flights, including between the Americas and Southeast Asia and India, through key European hubs.
SeaNews Turkey