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United Cargo spared brunt of airline's job cuts
United is axing 16,000 jobs. This story offers details on how the Cargo division fared, and how the airline is dealing with the financial crisis COVID. (www.freightwaves.com) Ещё...
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That's because cargo is making money
Cargo is King right now. This ia a quote from IAG's Willie Walsh at the 2nd quarter earnings report.
Cargo revenue was 10.6 per cent higher than in 2019 and was up 11.0 per cent at constant currency, with cargo revenue
boosted significantly by the additional flights operated for moving medical equipment and supplies, with an additional 1,875
cargo flights operated in quarter 2. Cargo revenue for quarter 2 was a record €369 million, up from €281 million in quarter 2
2019. Cargo carried for the six months to June 30, 2020, measured in cargo tonne kilometres (CTKs), fell by 37.5 per cent,
due to the reduction in passenger schedules, but yields were significantly higher, as the additional flights carried no
passengers and had no associated passenger revenue and hence the cost of operating such flights had to be met entirely
from cargo revenue.
Cargo revenue was 10.6 per cent higher than in 2019 and was up 11.0 per cent at constant currency, with cargo revenue
boosted significantly by the additional flights operated for moving medical equipment and supplies, with an additional 1,875
cargo flights operated in quarter 2. Cargo revenue for quarter 2 was a record €369 million, up from €281 million in quarter 2
2019. Cargo carried for the six months to June 30, 2020, measured in cargo tonne kilometres (CTKs), fell by 37.5 per cent,
due to the reduction in passenger schedules, but yields were significantly higher, as the additional flights carried no
passengers and had no associated passenger revenue and hence the cost of operating such flights had to be met entirely
from cargo revenue.
