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Airlines confirm cargo revenue growth

DALLAS/ FORT WORTH: October 27, 2017. American Airlines has reported a 2.7 percent increase in third quarter (Q3) revenue to US$10.87 billion; pre-tax earnings of US$1.0 billion; and net profit of US$624 million compared to the same period a year ago.

Cargo revenue rose 17 percent in the quarter to US$200 million and 12.2 percent for the first nine months of 2017 to reach US$568 million. The company said its Q3 pre-tax earnings fell US$75 million as a result of three hurricanes that caused more than 8,000 flight cancellations.

LH airfreight"We are playing the long game at American to create value in an industry that has been fundamentally transformed," said American chairman and CEO Doug Parker.

Parker acknowledged the role the airline's employees played in Puerto Rico and the Caribbean as the first commercial airline to restore service to San Juan after Hurricane Maria. American said it has shipped more than 2.5 million pounds of relief supplies to the island and raised almost US$2 million for the American Red Cross.

Meanwhile American One World alliance partner IAG Cargo has reported Q3 revenue of €259 million, up 10.2 percent over the same period last year, as yield rose 2.4 percent and volumes increased 7.7 per cent.

CEO Lewis Girdwood said the Q3 results were driven by demand from Asia-Pacific: "The ocean congestion between China and Europe continues to be a driver for the region's success and we have seen high demand for machinery, auto-parts and industrial goods on this route."

Also confirming the general airfreight trend, Lufthansa Cargo has reported an 17.4 percent rise in Q3 revenue to €594 million and an 18.2 percent increase for the first nine months of 2017 to over €1.75 billion. As a result, the pre-tax figure swung from -€63 million to +€105 million for the period that saw the Lufthansa Group record its "best-ever" overall result as net profit rose to €1.85 billion.

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