News / Air cargo carriers see a brighter year on the radar after 2023 disappoints

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Airlines are posting declining revenues last year for their cargo subsidiaries, but stakeholders remain optimistic for an air cargo uplift, following an unexpected bright start to 2024.  

This week, Lufthansa and Etihad released annual financial results that reflected 2023’s weak air cargo demand in the wake of the Covid-19 pandemic.  

Lufthansa Cargo reported revenue of €2.98bn ($3.3bn) last year, down 36% on 2022’s €4.6bn, and generated an adjusted ebitda of €401m, down 77% from €1.7bn in 2022. 

“A respectable result in ...