Record revenues for Air Canada Cargo
18 / 02 / 2022
CGI Air Canada B767 freighter. Source: Air Canada
Air Canada Cargo saw all-time high cargo revenues of nearly C$1.5bn in 2021, compared with C$920m in 2020.
The cargo arm’s record annual revenue exceeded C$1bn for the first time, reaching C$490m in the fourth quarter of 2021.
Jason Berry, Vice President, Cargo, at Air Canada, said: “Air Canada Cargo has just concluded a year that saw it grow exponentially, solidifying our position as a market leader in growth over the last 24 months.”
In 2021, Air Canada operated a total of 10,217 cargo-only flights, compared to 4,235 cargo-only flights in 2020.
In October 2021, the airline announced the start of a C$16-m project to expand and enhance Air Canada Cargo’s cold chain handling capabilities for shipments such as pharmaceuticals, fresh food, and other perishables at its Toronto Pearson International Airport cargo facility.
The project, said the carrier in its full year results statement, is part of Air Canada’s strategy to further develop its cargo division, which also includes the introduction of additional freighter aircraft, the launch of dedicated freighter routes and an expansion into the e-commerce delivery service.
In December 2021, Air Canada introduced its first B767 dedicated freighter to its operating fleet and expects, by the end of 2022, to have three more B767 freighters in service.
Berry added: “During the quarter, we welcomed our first Boeing 767-300 freighter aircraft, a milestone that will allow us to continue to deliver consistent cargo capacity to our customers on key trade lanes.
“And we continue to invest in key areas for Air Canada Cargo, expanding our footprint in Frankfurt, completing the first phase of enhancements to our cold chain facilities in Toronto and the continued development of Rivo in the e-commerce space.”
Air Canada Cargo has continued to expand its recently-launched freighter network by adding a series of new flights.