US carriers reported rising cargo volumes in the second quarter of the year but there was a mixed performance on the revenue front.
In terms of volumes, American Airlines led the way as its cargo tonne miles (CTM) for the period increased by 20.6% year on year to 515m.
However, the increase in volumes came at the expense of a decline in cargo revenues, which were down by 1.3% on last year to $195m.
In the second quarter, cargo traffic at United increased by 15.9% to 890m CTM.
Unlike American, the Chicago-headquartered airline reported an increase in its cargo revenues as the figure improved by 14.4% against last year to $414m.
Delta Air Lines, which does not report cargo traffic figures, saw its cargo revenues for the second quarter increase 16% year on year to $199m.
Capacity - in terms of passenger seats - at all three airlines was up by around 8% year on year in the quarter as the carriers continued to add capacity back into the market following the pandemic.
All three carriers saw their cargo revenue performance improve in the second quarter compared with the first quarter.
This reflects an overall improvement in air cargo rates as the year has progressed.
Figures from Xeneta show that over the first three months of the year freight rates were down 22% in January, 15% in February and 6% in March. In contrast, the second quarter saw rates increase 3% in April, 7% in March and 17% in May.
https://www.aircargonews.net/airlines/us-carriers-see-cargo-revenues-slide-in-2023/
