American Airlines reports decline despite increase in yields
American Airlines’ cargo traffic fell 16.2% during the second quarter to 644 million cargo ton miles, or about 940 million freight tonne kilometers, leading to a 15.4% decline in cargo revenue, the company said this week during its earnings call.
“Our cargo yields were slightly higher during the quarter, but year-over-year scheduled reductions and falling demand in Asia and Europe markets meant that cargo revenue fell 15.4% to $221 million despite that increase in yields,” Chief Financial Officer Derek Kerr said during the call. Year-to-date, the carrier’s cargo revenue is down 10.1% to $439 million.
Overall, the carrier reported $12 billion in revenue for Q2, with net profit of $662 million.