American Q4 cargo revenue up 10%, 2024 down marginally
Cargo tonne miles increased 5% to 526 million in Q42024 from 501 million during Q42023.
American Airlines reported a 10.5 percent increase in cargo revenue at $220 million for the fourth quarter ended December 31, 2024 compared to $199 million in the same period last year.
"Cargo tonne miles increased five percent to 526 million from 501 million during the three months ended December 31, 2023," says an official release. Cargo yield per tonne mile was also up five percent at 41.85 cents from 39.74 cents.
For 2024, cargo revenue declined marginally (one percent) to $804 million from $812 million in 2023.
While cargo tonne miles increased 12 percent to 2.06 billion, yield was down 12 percent at 38.92 cents.
Total operating revenue for 2024 was up three percent at $54.2 billion and net income was also up three percent at $846 million.
"The American Airlines team achieved a number of important objectives in 2024," says Robert Isom, CEO, American. "We continue to run a reliable operation, and we are reengineering the business to build an even more efficient airline. That, coupled with our commercial actions, resulted in strong financial performance in the fourth quarter. As we look ahead to this year, American remains well-positioned because of the strength of our network, loyalty and co-branded credit card programmes, fleet and operational reliability, and the tremendous work of our team."
American generated free cash flow of $2.2 billion in 2024, which enabled further strengthening of its balance sheet. In the fourth quarter of 2024, American achieved its total debt reduction goal of $15 billion from peak levels in mid-2021 — a full year ahead of schedule, the release added.
