Air Canada Cargo revenue drops nearly 25% in Q2

Source: Air Canada

Air Canada’s cargo business saw second-quarter operating revenues drop 24% year over year.

Operating revenues for Air Canada Cargo in the three months ended June 30 were C$227m, down from C$299 in the same period in 2022.

Michael Rousseau, president and chief executive of Air Canada, said in a press release: “Our cargo business, like others in the industry, experienced lower demand and yields than expected.”

Overall, the Montreal-headquartered airline reported operating revenues of C$5.427bn, an increase of 36% from the second quarter of 2022.

The carrier noted it had six Boeing 767 freighters at the end of the second quarter, compared with four of this freighter type a year earlier.

“Air Canada also incurs expenses that are related to the operation of freighter aircraft, which some airlines, without comparable cargo businesses, may not incur,” said the carrier in its press release. ”

Air Canada Cargo took delivery of two newbuild Boeing 767-300 freighters in May.

The airline registered a 15% decline in full-year cargo revenues to C$1.3bn in 2022, due to the ending of its pax-freighter operations and lower yields.

Air Canada the latest to confirm Mexico freighter move

Air Canada Cargo’s newbuild 767 freighters arrive

Air Canada sees cargo revenues slide in 2022

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Rebecca Jeffrey

Rebecca Jeffrey
New to aviation journalism, I joined Air Cargo News in late 2021 as deputy editor. I previously worked for Mercator Media’s six maritime sector magazines as a reporter, heading up news for Port Strategy. Prior to this, I was editor for Recruitment International (now TALiNT International). Contact me on: [email protected]