The weak global trade and overcapacity in the air freight sector is to blame for Air France-KLM Cargo's losses of EUR202 million (US$277 million) in 2013, marking another year of loss totalling EUR230 million.
Last year's Air France-KLM losses contrast with Lufthansa Cargo, which is expected to post a 2013 operating profit in the "high double-digit million euro range" next month, after recording a 2012 operating profit of EUR104 million.
AF-KLM Cargo's 2013 revenues stood at just over EUR2.8 billion, down 7.9 per cent on 2012. Restructuring measures implemented over the year, which saw freighter capacity reduced by 11.5 per cent compared to the six per cent initially planned. But total capacity dropped 2.7 per cent due to a slight increase in belly space.
Seventy per cent of Air France Cargo traffic is flown on passenger flights. The airline is to phase out its remaining B747Fs next year and focus its maindeck capacity on a pair of B777Fs while KLM-Martinair Cargo will withdraw two of its freighters in summer 2015, according to Shipping Gazette.
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