Page 15 - STAT November 2022 for Magzter

confidence, business activity, and other Q32019 even as cargo revenue tonne miles
geopolitical reasons has however put the declined 9 percent to 733 million from 804
cargo markets under pressure. million in Q32019.
As capacity returned, air freight volumes For the first nine months of FY2022, cargo
across the industry are down about 14% revenue came in at $1.7 billion, almost
YoY, and steered clear of the peak season double (97 percent) compared to $863
spike that usually is expected at this time million during the comparable period of
of the year. These trends were also in line 2019. Cargo revenue tonne miles dropped 7
with the recent third-quarter results of percent to 2.3 billion from 2.4 billion in the
some of the US carriers. same period of 2019. Compared to 2021,
Leading US carrier, American Airlines Q3 cargo revenue was down 4 percent and
recently reported a 16 percent decline in While geopolitical increased 4 percent for nine months.
cargo revenue at $279 million for the third "Through a combination of cargo-only
quarter that ended September 30, 2022, issues always loom flights and passenger flights, United trans-
compared to Q32021 on lower miles flown over the success of ported nearly 250 million pounds of cargo
and lower yields. While cargo tonne miles including approximately 20 million pounds
declined over 6 percent to 478 million, the cargo industry, of medical shipments, 480,000 pounds of
cargo yield per tonne mile (in cents) was Covid-related shipments, and 900 pounds
down over 10 percent at 58.30. and may negatively of military shipments," said an official
“Based on current trends, the company impact it in the release. United reported operating revenue
expects its fourth-quarter total revenue of $12.9 billion, up 13 percent compared to
to be 11% to 13% higher versus the fourth short-term, the long- 2019, and a net income of $942 million.
quarter of 2019 on 5% to 7% lower capacity. Delta Air Lines reported a 27 percent
With these demand trends and the current term cargo trajectory increase in cargo revenue to $240 million
fuel price forecast and excluding the impact for global airfreight for the third quarter ended September
of special items, the company expects to 30, 2022, compared to $189 million in
produce an operating margin of between (and for the USA) Q32019. For the first nine months of 2022,
5.5% and 7.5% in the fourth quarter,” a cargo revenue was up 41 percent to $801
release from the company cited. seems to be on solid million from $567 million in the same pe-
Close rival United Airlines reported a 77 footing. riod of 2019. Total operating revenue was
percent increase in cargo revenue to $498 up 11 percent to $14 billion for Q32022
million for the third quarter ended Sep- Dimitrios Jimmy Nares and 4% to $37 billion for nine months of
tember compared to $282 million in Miami-Dade Aviation Department the current financial year.

www.stattimes.com | NOVEMBER 2022 13