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Air Canada Q2 cargo revenue down 24pc
来源：shippingazette 编辑：编辑部 发布：2023/08/22 16:52:18
AIR Canada reported that cargo revenues in the second quarter declined 24 per cent year over year to US$53.7 million (CAD72 million) on a mix of lower volume and lower yield, reports New York's FreightWaves.
Air Canada said one reason for the decline is that Air Canada was still using a handful of passenger aircraft as temporary cargo planes in the trans-Pacific and has since returned them to full passenger operations. The decline was partially offset by increased freighter operations to Central and South America and to Europe. However, the performance was better than most international peers that were aided by the deployment of four additional Boeing 767-300 freighters during the past year.
Canada's largest passenger airline launched its own cargo airline in early 2022 and now has six cargo jets in the fleet. Two were directly purchased from the Boeing factory and four are former passenger jets converted by a specialty engineering firm to transport shipping containers in the main cabin. The freighters allow Air Canada to target markets where there is a need for consistent capacity or where seasonal passenger flights might not operate. At the same time, the broader passenger network allows the cargo division to connect to the freighters at key hubs and serve more customers.
Cargo revenues in the first six months of 2023 declined $232 million or 33 per cent from the same period in 2022.
Air Canada set a record of $1.2 billion in cargo revenue in 2021, with a 15 per cent decline in 2022 to $935 million.
Air Canada expects to receive one more 767 this year after Israel Aerospace Industries completes the hull conversion. The target is for ten 767 freighters by 2025, with two production freighters from Boeing scheduled to arrive next year.
In May, Air Canada Cargo operated its first cargo flight to Punta Cana, Dominican Republic, and now flies there once per week. It also added a fourth weekly freighter flight on August 5 to Mexico City. Other Latin America destinations include San Jose, Costa Rica; Bogota, Colombia; Lima, Peru; Guadalajara, Mexico; Quito, Ecuador; and San Juan, Puerto Rico.
Companywide, Air Canada beat expectations with $894 million in earnings before accounting and tax adjustments thanks to strong travel demand and the return of more international flying following pandemic limits.
Air Canada said one reason for the decline is that Air Canada was still using a handful of passenger aircraft as temporary cargo planes in the trans-Pacific and has since returned them to full passenger operations. The decline was partially offset by increased freighter operations to Central and South America and to Europe. However, the performance was better than most international peers that were aided by the deployment of four additional Boeing 767-300 freighters during the past year.
Canada's largest passenger airline launched its own cargo airline in early 2022 and now has six cargo jets in the fleet. Two were directly purchased from the Boeing factory and four are former passenger jets converted by a specialty engineering firm to transport shipping containers in the main cabin. The freighters allow Air Canada to target markets where there is a need for consistent capacity or where seasonal passenger flights might not operate. At the same time, the broader passenger network allows the cargo division to connect to the freighters at key hubs and serve more customers.
Cargo revenues in the first six months of 2023 declined $232 million or 33 per cent from the same period in 2022.
Air Canada set a record of $1.2 billion in cargo revenue in 2021, with a 15 per cent decline in 2022 to $935 million.
Air Canada expects to receive one more 767 this year after Israel Aerospace Industries completes the hull conversion. The target is for ten 767 freighters by 2025, with two production freighters from Boeing scheduled to arrive next year.
In May, Air Canada Cargo operated its first cargo flight to Punta Cana, Dominican Republic, and now flies there once per week. It also added a fourth weekly freighter flight on August 5 to Mexico City. Other Latin America destinations include San Jose, Costa Rica; Bogota, Colombia; Lima, Peru; Guadalajara, Mexico; Quito, Ecuador; and San Juan, Puerto Rico.
Companywide, Air Canada beat expectations with $894 million in earnings before accounting and tax adjustments thanks to strong travel demand and the return of more international flying following pandemic limits.