Page 40 - The STAT Trade Times September 2022 Issue

World
AIR CARGO

Lufthansa Cargo Q2 earnings up 48%

on increased demand, higher yields Cathay Pacific
cargo carried

ufthansa Cargo reported ongoing capacity shortages, €641 million ($654 million)
Lan EBIT of €482 million and ~70% of load originates in H12021. Traffic revenue was down 17%
($492 million) for the second outside of Germany," says up 46 percent to €2.3 billion in July
quarter ended June 30, 2022 the airline in a presentation ($2.3 billion).
- an increase of 48 percent post the announcement of "On May 9, 2022, the athay Pacific carried
compared to Q22021 on the results. For Q22022, traffic Lufthansa Group decided to C100,714 tonnes cargo
higher demand for freight and revenue increased 45 percent purchase three Boeing 777F in July 2022, down over
average yields in the airfreight to €1.2 billion ($1.23 billion). cargo aircraft and seven Boeing 17 percent compared to
industry well above the pre- In the first half, Lufthansa 777-8F cargo aircraft. In addi- July 2021 and a 41 percent
crisis level. Cargo achieved a new record tion, leases for two Boeing 777F decrease compared with the
"Exceptionally strong adjusted EBIT of €977 million cargo aircraft, which run until same period in 2019.
momentum continues due to ($996 million) compared to 2024, will be extended." "The month's cargo
revenue tonne kilometres
(RFTKs) decreased 27.5
percent year-on-year, and
were down 42.6% compared
to July 2019," according to an
official release.
The cargo load factor
decreased 10.8 percentage
points to 71 percent while
capacity, measured in avail-
able cargo tonne kilometres
(AFTKs), was down 16 percent
YoY and down 49 percent
compared to July 2019.
ATSG Q2 revenue up 24% on continued of 2022, tonnage decreased
In the first seven months
freighter demand 7 percent against a 28
percent drop in capacity
and a 34 percent decrease
in RFTKs compared to the
same period for 2021, the
statement added.
"Tonnage decreased
month on month across most
markets, reflecting reduced
cargo flight capacity due to
ir Transport Services Group incremental pretax gains primar- flow in the second quarter," said weather related cancellations
A(ATSG) reported a 24 percent ily related to warrant revalua- Rich Corrado, president and chief as well as ongoing operation-
increase in revenue to $510 tions," says an official release. executive officer, ATSG. al restrictions which impacted
million for the second quarter of Adjusted EBITDA was up 23 ATSG expects to lease a the July schedule. The major
2022 on continued strength in percent at $158 million, and op- record 18 freighters in 2023 impact of these challenges
freighter leasing. erating cash flow came in at $125 including 14 767s and four was seen on our Indian and
Earnings, however, dropped million compared to $183 million A321s. "The majority of those the Americas routes, whilst
33 percent to $54 million from in Q22021, the release added. orders are backed by customer capacity on our European
$80 million in Q22021 "that "Leasing converted midsize deposits, and nearly all are from routes grew marginally,” said
included $38 million pretax in freighter aircraft and flying them existing customers, giving us Ronald Lam, Chief Customer
government grants representing in express-package networks great confidence about growth and Commercial Officer,
pandemic relief for ATSG's pas- remained a powerful and in our core leasing returns over Cathay Pacific.
senger airline and $30 million in resilient driver of our strong cash the next 18 months.
38 | SEPTEMBER 2022 www.stattimes.com