Air France-KLM Cargo has reported 2013 operating losses of €202 million, down from the 2012 deficit of €230 million, but never-the-less still firmly in the red, reflecting weak global trade and overcapacity in the sector, the combined airline said. AF-KLM Cargo’s 2013 revenues stood at just over €2.8 billion, down 7.9 per cent on 2012 (-5.7 per cent on a constant currency basis). Restructuring measures implemented over the year, saw freighter capacity … [Read more...] about AF-KLM Cargo narrows loss, still firmly in red
operating loss
EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
Lufthansa Cargo swung to a US$87 million operating loss in the second quarter from a $95 million profit a year ago amid a “severe†slump in revenue. Lufthansa Cargo’s revenue in the three months to 30 June fell nearly 40 per cent to $626 million from just over $1 billion a year ago as traffic slumped 16.9 per cent to 366,000 tonnes from 441,000 tonnes. The situation was better in July with only a 4.8 per cent decline for the month year on year, with the carrier … [Read more...] about EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
SINGAPORE: First quarterly loss in six years for SIA
Singapore Airlines has posted its fi rst quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended 30 June dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially off … [Read more...] about SINGAPORE: First quarterly loss in six years for SIA
HONG KONG: Cathay posts H1 profit
The Cathay Pacific Group reported a profit of HK$812 million (US$104.8 million) for the first six months of 2009, compared to a loss of HK$760 million in the first half of 2008, thanks primarily to a HK$2.1 billion fuel hedging gain. Overall the group – which includes its Dragonair subsidiary – has been hit by a deep and sustained downturn in its key markets, with sharply reduced passenger and cargo revenues resulting in a 27.1 per cent drop in turnover to HK$30,921 … [Read more...] about HONG KONG: Cathay posts H1 profit
EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
Lufthansa Cargo swung to a US$87 million operating loss in the second quarter from a $95 million profit a year ago amid a “severe†slump in revenue. Lufthansa Cargo’s revenue in the three months to 30 June fell nearly 40 per cent to $626 million from just over $1 billion a year ago as traffic slumped 16.9 per cent to 366,000 tonnes from 441,000 tonnes. The situation was better in July with only a 4.8 per cent decline for the month year on year, with the carrier … [Read more...] about EUROPE & CIS: Collapse in yields, Luft Cargo loses US$87M
MASKargo may slash cargo capacity again
Malaysia Airlines (MAS) may slash another 20 per cent of its cargo capacity in the coming months following a cut of 23 per cent year-on-year since the fourth quarter of the 2008 financial year ended 31 December. That aggressive cut helped to bolster MAS' cargo load factor at 65.6 per cent in the fourth quarter, with yield of 90.4 sen (US$0.25) per load tonne km, compared with the load factor of 64 per cent and yield at 91.8 sen per load tonne km in the corresponding period a year ago. But taken … [Read more...] about MASKargo may slash cargo capacity again
