Air freight Lufthansa's star performer, but 'the good times never last' says Cargo CEO
It may be temporary, but much of the boardroom power in aviation has finally fallen ...
Poor Air France-KLM reported another miserable result in cargo, citing a “challenging cargo operating context, marked by structural industry overcapacity”. But while the carriers reported an EBITDA loss of €91m for the quarter, down €11m from the year before, it was encouraged by the reduction in losses over the nine-month period, from -€204m to -€194m. Revenues from cargo were down 16%, both for the third quarter and nine month period, while capacity was down 3.1% and 4.8% respectively, and load factors were down 2 points and 1.4 points.
One MD11 freighter was retired during the first quarter, and two more were phased out in July, reducing the total number of full freighters in operation to six.