Japan Airlines Corp.’s revenue from cargo operations grew faster than overall revenue in the first quarter of fiscal 2015, helping the carrier’s net profit surge 120.7 percent in the April-June quarter from the same three-month period last year to 32.6 billion yen ($263 million) on a consolidated basis.
Blue Dart Express, India’s leading air express and logistics service provider, posted a big jump in net earnings in the first fiscal quarter, as income from operations increased significantly, driven by new business strategies.
Lufthansa Cargo’s five-year winning streak ended abruptly in the second quarter as it slumped to a 68 million euros ($74.8 million) operating loss from a 20 million euro profit a year ago.
ANA Holdings Inc. saw its group net profit more than double year-over-year in the first quarter of fiscal 2015, which started in April, despite weaker revenue from cargo operations.
IAG Cargo and Finnair Cargo have signed an agreement to share space on a freighter service between London Luton and Helsinki airports as the two carriers map out a new strategy following their decision not to operate their own cargo aircraft.
TNT Express posted a 6.2 percent increase in second-quarter revenue, driven by a stronger dollar and growing business from small and medium-sized customers.
Air France-KLM’s cargo business is sinking deeper into the red as its second-quarter operating loss soared to 78 million euros ($86 million) from 45 million euros a year ago despite desperate cost-cutting measures.
The slack season has hit the air cargo business hard this year with no sign of any improvement on the major trades as momentum steadily drains out of the market and freight rates tumble to new lows.
FedEx Express is re-engineering its global network by replacing older, higher capacity planes with more efficient, technically advanced aircraft that have lighter payloads. The result should be a more efficient, higher yield operation in an era of slower air cargo trade.