Korean cargo yields rise

Korean Air registered a 5.7 per cent increase in cargo yield in the 2014 third quarter as its load factor rose 2.5 percentage points to 79.1 per cent.
The South Korean flag carrier’s cargo arm, accounting for 22.1 per cent of total airline revenues in Q3, saw a 10 per cent rise in domestic cargo revenue sales in the three months to September.
Internationally, it recorded a three per cent rise in cargo revenues in and out of Japan, a three per cent fall in Chinese freight revenues and a static result in South East Asia.
The Americas registered an eight per cent rise in quarterly cargo revenue sales, but Europe was down five per cent over like period last year.
In a statement on its last quarter business plan, Korean Air said: “The air cargo market is forecast to grow continuously due to global economic recovery. In accordance with the growing demand of smartphone, semiconductor, and other electronic products, [we will] operate charter flights to maximize profits.
“[We will] increase utilization of new aircraft and maintain flexible-supply-operation policy to meet seasonal demand trends.”
Korean Air operates a fleet of 26 aircraft, made up of 17 B747Fs, five B747-8s and four B777Fs.
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