News / Cargo the saving grace in Q3 as AF-KLM reports operating loss of €1bn

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Air France-KLM is the latest airline to announce third-quarter results showing that cargo is critical to its business.

Total group revenues fell 68.3% to €2bn, of which cargo accounted for 34%, with third-quarter freight revenues of €676m.

The group recorded an ebitda loss of €442m – “limited thanks to cost control and state aid”, and an operating loss of more than €1bn.

Cargo was, of course, a bright spot. While capacity was down 33% and tonnage declined 20%, cargo revenues were up 33%, indicating ...