Against the odds: Mærsk, MSC, CMA CGM & Hapag – 'Houston, we've a problem'
Too much money to handle
© Khunaspix Dreamstime.
By Alex Lennane
US major airline profits held broadly flat in the third quarter, according to the latest Bureau of Transportation statistics. While this of course covers the passenger business, it also notes that air cargo was up – a perhaps surprisingly large – 9.9% year-on-year for all the 27 airlines which reported, to $782.4m. However, this accounted for just 1.7% of total revenues – while baggage fees accounted for 2.12% of revenues, at $959.8m – reflecting the fact that may reporting airlines are domestic, low cost carriers.
Comment on this article