air cargo revenue

Air Cargo Market: Brace for big rate hikes

Cargo loading on a big jet as viewed from behind the tail, close up.

The air cargo market is building up pricing momentum towards the fourth quarter, putting all-cargo carriers and airlines with cargo-only passenger freighters in a strong position relative to shippers.  

Freight rates have climbed since early July with the slow return of international passenger capacity combined with consistent growth in cargo shipments as the global economy, notably in China, continues to recover from coronavirus.

Export demand to the U.S. is very high, as is traffic from...

https://s29755.pcdn.co/news/air-cargo-market-brace-for-big-rate-hikes

Freighters to the rescue: Korean Air posts Q2 profit

A pale blue Korean Air 747 cargo jet soars into a bright blue sky. Korean Air's cargo division helped the airline survive the coronavirus downturn.

Korean Air leveraged its cargo operation to turn a profit in the second quarter when nearly every other passenger airline has reported enormous losses after COVID-19 travel restrictions brought most flight operations to a standstill. 

The South Korean carrier has one advantage that many pure passenger airlines lack – freighters. The company said it increased the operation rate of its freighter fleet and maximized cargo supply on passenger airplanes to generate an operating profit of $123.7...

https://s29755.pcdn.co/news/freighters-to-the-rescue-korean-air-posts-q2-profit

United Airlines goes on cargo tear

Hydraulic lift platform lifts cargo pallets to door of United Airlines jet. United Airlines has figured out how to make money off of cargo during the pandemic.

Airlines have touted how much dedicated cargo flying they’re doing with transformed passenger planes, but United Airlines is the only major U.S. carrier where cargo is boosting the bottom line during the COVID pandemic.

United’s second-quarter earnings last week included an eye-popping 36.3% increase in cargo revenue to $402 million. Cargo-ton-miles were up 40.3% to 496 million. Even more impressive is the fact that cargo revenue represented 27.3% of the company’s total operating revenue...

https://s29755.pcdn.co/news/united-airlines-goes-on-cargo-tear

American Airlines cargo revenue sinks, along with Q2 profit

American Airlines

American Airlines (NASDAQ: AAL) has offered cargo-only flights during the COVID-19 pandemic, but the new line of business didn’t overcome the lost cargo moved on passenger airplanes that were grounded in the second quarter.

The Fort Worth, Texas-based airline on Thursday reported $130 million in cargo revenue for the quarter ended June 30, down 41% from the same quarter last year. Cargo revenue for the first half of the year amounted to $277 million, 37% below 2019.

American said it currently...

https://s29755.pcdn.co/news/american-airlines-cargo-revenue-sinks-along-with-q2-profit

American Airlines suffers Q2 loss from COVID-19

American Airlines

American Airlines (NASDAQ: AAL) posted a $2.7 billion pretax loss for the second quarter, ending June 30, on a nearly $10 billion drop in revenue from last year.

American Airlines CEO Doug Parker called the second quarter of 2020 “one of the most challenging” in the Fort Worth, Texas-based airline’s history.

“There is much uncertainty ahead, but we remain confident we will emerge from this crisis more agile and more efficient than ever before,” he said in a statement.

Parker said American spent...

https://www.freightwaves.com/news/american-airlines-suffers-q2-loss-from-covid-19

United Airlines records $1.6b Q2 loss; cargo revenue soars

A dark blue United Airlines jet comes in for landing, side view right above the tree tops. United posted a $1.6 billion loss Tuesday.

United Airlines (NASDAQ: UAL) achieved 36.3% growth in cargo revenue in the second quarter after transitioning idle aircraft to cargo-only flights, but the glimmer of good news was overshadowed by a $1.6 billion net loss, not including special charges.

It was the worst quarter in United’s 94-year history. Revenues fell 87% year-over-year as travel demand evaporated because of travel restrictions and fears of infection from the coronavirus, United said. The earnings report, released after the...

https://www.freightwaves.com/news/united-airlines-records-1-6b-q2-loss-cargo-revenue-soars

Delta cargo revenue drops despite freight-only flights

Cargo has been a bright spot for Delta Air Lines (NYSE: DAL), but the revenue from this business is still part of a $3.9 billion pretax loss for the second quarter.

Like other airlines, Delta in March shifted some passenger planes to cargo-only flights to carry personal protective medical gear and other high-demand products overseas to key U.S. markets. It also has made use of passenger quarters on some planes to handle certain cargoes.

Despite the cargo-only flights, the airline reported cargo...

https://www.freightwaves.com/news/delta-cargo-revenue-drops-despite-freight-only-flights

Delta faces ‘staggering’ Q2 loss in face of COVID-19

Delta Air Lines (NYSE: DAL) posted a $3.9 billion pretax loss for the second quarter, ending June 30, on a more than $11 billion drop in revenue from last year.

Ed Bastian, the Atlanta-based carrier’s CEO, said the dramatic loss “illustrates the truly staggering impact of the COVID-19 pandemic on our business.”

The airline had anticipated a continued deterioration in revenue since earlier this year when it grounded more than 90% of its passenger flights due to government travel restrictions to...

https://s29755.pcdn.co/news/delta-faces-staggering-q2-loss-in-face-of-covid-19

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