Air cargo carriers ascend in 2010

THE story last year was largely one of success for air cargo companies across the world. Each 2010 financial year report that comes in confirms escalating cargo flights, volumes and revenues.

In Asia, Cathay Pacific Group’s cargo revenue increased by 50.1 per cent to HK$25,901 million (US$3.32 billion). Freight carried by Cathay Pacific and Dragonair increased by 18.1 per cent to 1.8 million tonnes. Following the revival of service freighters it parked in the desert during the downturn cargo capacity increased a further 15.2 per cent. Load factor increased by 4.9 per cent to 75.7 per cent.

To the west, UAE national cargo carrier Midex Airlines (pictured) has reported a 55 per cent rise in revenues for 2010 and a 50 per cent increase in the number of flights operated. Revenues increased to AED528 million ($143.7 million), compared to AED340 million ($92.56 million) in 2009. The freight carrier also reported an operating profit of AED158 million ($43 million). Revenue was propelled by the increased flights operated, which climbed to 1,134 in 2010. The addition of two new aircraft also saw the capacity carried rise by approximately 100 tons to around 540 tons of cargo.

In Europe, Switzerland-headquartered Panalpina Group achieved double-digit volume growth in its air and ocean freight businesses. Growth in the airfreight market reached 19 per cent. Panalpina increased its airfreight volume by 22 per cent to 892,000 tons for the year.

UK-based John Menzies reported a 28 per cent rise in profits to £45 million ($71.9 million) thanks to a strong performance in its aviation division. Profits in aviation, which handled 700,000 flight turns and 1.7 million tonnes of cargo in 2010, were up 56 per cent due to a rise in overseas cargo volumes and growth in the ground handling business.

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