AIR France KLM Martinair Cargo recorded improvements in cargo volumes, revenues and yield in the third quarter as it benefitted from rising demand out of Asia Pacific
AIR France KLM Martinair Cargo recorded improvements in cargo volumes, revenues and yield in the third quarter as it benefitted from rising demand out of Asia Pacific. The Franco-Dutch airline group noted a 0.6 per cent increase in overall third-quarter cargo revenues to EUR561 million (US$601 million), while cargo traffic revenues improved by 7.3 per cent on last year to EUR471 million.
Cargo carried was up by 3.5 per cent to 226,000 tonnes and the cargo load factor improved by 0.7 percentage points to 45.5 per cent as capacity was up 1.5 per cent. Yields (unit revenue per ATK) were up 5.9 per cent compared with a year ago.
The airline group said that much of the volume growth came from the Asia Pacific market, and it hoped to capitalize on the trend through the deployment of additional capacity to the region.
'Today's airfreight market is dynamic and Asia in particular is performing well driven by e-commerce and the Red Sea disruption. In response to market dynamics, a part of the Group's full freighter capacity is being redeployed to Asia,' the company said in a press release.
Between January and September, the group saw its cargo traffic revenues fall by 8.5 per cent year on year and yields were down 9.6 per cent.
However, the group's cargo performance lags behind that of European rival Lufthansa, which reported a 16 per cent increase in revenues during the third quarter and a 11 per cent improvement in revenue cargo tonne kms.
The group in early October launched a programme named 'Back on Track' at KLM, which aims to address productivity, revenue and operational shortfalls and deliver a EUR450 million in short-term EBIT improvement.
Air France-KLM achieved an operating profit of EUR1.18 billion for the third quarter, down EUR162 million year on year, reports London's Air Cargo News.
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