Cargo Inches Toward Recovery
By Cathy Buyck, Jens Flottau
Source: Aviation Week & Space Technology
Growth in airfreight has begun to accelerate, but major European airlines such as Air France-KLM remain cautious in their outlook and continue to restructure their cargo operations.
The Franco-Dutch group had targeted to have its airfreight business break even in 2014 but this will be a “challenge,” Chairman/Chief Executive Alexandre de Juniac admits citing the persistently tough economic environment, especially in Europe, and subdued growth in the airfreight market. Air France-KLM's cargo business, which combines the Air France Cargo, KLM Cargo and Martinair Cargo activities, posted an operating loss of €100 million ($133 million) in the first six months of 2013. This represents a 25% improvement on the €134 million loss in the year-ago period.