US carriers see cargo revenues slide in 2023

The big three US airlines saw their cargo revenues decline last year as rates and volumes came under pressure.

United Airlines – the largest of the three in terms of cargo volumes – registered a 31.1% year-on-year decline in cargo revenues in 2023 to $1.5bn.

At American Airlines there was a 34.1% fall for the year to $812m and at Delta Air Lines the decline was 31% to $713m.

The fall came as airfreight rates were under pressure last year due to flat demand and increasing capacity as networks were re-established following the Covid pandemic.

However, cargo revenue performance across all three airlines improved as the year progressed. In the fourth quarter, United saw its revenues decline by the lesser amount of 14.8%, at American there was a 24.2% fall and at Delta the Q4 decline was 24%.

Meanwhile, volumes for the year at American were also down. The Dallas Forth Worth-headquartered airline registered a 6.7% year-on-year decline in cargo ton miles to 1.8bn, although this metric increased by 9.5% in the final quarter of the year.

United saw its cargo ton miles for the year increase by 3.9% to 3.2bn and also saw performance improve towards the end of the year with a 16.9% increase in the final quarter.

Delta Air Lines does not report its air cargo traffic performance.

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