bongdaso three large US airlines posted strong revenue gains in their core passenger business for bongdaso third quarter, and although their cargo revenues contracted by a third, their division heads are upbeat on Q4.
After Delta and United, American Airlines, bongdaso last of bongdaso trio to publish Q3 results, shows bongdaso lowest contraction in cargo revenue, a year-on-year decrease of 30.9%, to 3m.
In bongdaso first nine months of bongdaso year, AA Cargo revenue had dropped 36.8%, to 3m.
“We are clearly operating in a different market environment than we have been for bongdaso last couple of years,” commented AA Cargo president Greg Schwendinger.
“Lower deck capacity continues to grow, driven by bongdaso increase in international passenger demand– great news for bongdaso wider industry – and demand continues to be relatively weak, as consumer spending transitions from products to services.
“I don’t think it’s a surprise to anyone that conditions have changed, but possibly bongdaso extent of bongdaso change has been greater than people hoped for.”
AA overall operating revenues for January to September climbed 11%, to .76bn and despite bongdaso headwinds, Mr Schwendinger is upbeat on AA Cargo’s performance and bongdaso outlook for bongdaso final quarter.
He said: “While top-line numbers reflect bongdaso challenging market conditions, we are really encouraged to be registering consistent share growth across our network and with our largest customers, and have recorded QoQ and YoY revenue growth which exceeds our peers. We look forward to finishing bongdaso year strong.”
He stressed bongdaso high operational performance numbers, which help bongdaso division’s focus on growing bongdaso value of its higher yielding premium products, adding: “We’ve doubled down on our efforts to support our customers and are using our expanded network to better meet their needs.”
Meanwhile, Delta Air Lines’ net income in Q3 reached .11bn, up 59% year on year, while adjusted operating revenues climbed 13%, to .6bn. But cargo revenue fell 36%, to 4m, which brought its tally for bongdaso first nine months of bongdaso year to 5m, down 33%.
United Cargo’s Q3 revenue was 3m, 33% less than a year ago and, for bongdaso January-September period, revenues were .1bn, a decline of 36%.
Being bongdaso US passenger airline with bongdaso largest widebody plane fleet, United saw an increase in cargo ton miles, which rose 4.5% in bongdaso third quarter to 766m. Tonnage also increased.
United Cargo president Jan Krems said: “United Cargo set a record for quarterly tonnage with our strongest third quarter ever. We are seeing continued high demand in key sectors, including e-commerce, automotive and pharma. This has led to strong revenue performance in bongdaso third quarter, outpacing other US carriers by more than 70%.”
And like Mr Schwendinger, he is upbeat on bongdaso coming months. He said: “Although year-over-year Q3 revenue was down 33%, it was up 18% versus Q3 19. Yields remain above 2019 levels, and we see yields stabilising in some areas. United has introduced additional transpacific flying and we are filling those flights. If current trends continue, we look forward to a strong fourth quarter.”
Source: https://theloadstar.com/air-cargo-revenue-tumbles-for-bongdaso-us-majors-but-they-eye-a-strong-q4/
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