Is Freighter operation still profitable these days?

In the Philippines right now, freighter operation is so minimal to the point that some of the freighter operators have even approach us for cargo volume. This is because the belly capacity of most airlines operating here are available for cargo loading. The adverse effect of lite baggage being practice by passenger do help a lot for the accommodation of more cargoes on Airbus aircraft which are common among the airlines Cebupacific, Philippine Airlines, PalExpress and Zestair.

The frequency of flights of these commercial carriers have increased, hence, the belly hold capacities also increased. But there are times when offloading of cargoes do happen due to payload constraint of some airports runways of which need upgrading. But as far as the looks of the cargo industry is concerned, its bullish here.  

In short, the capacities offered by the airlines here still could cater for the cargo uplift domestically and even those bound for regional & international points. The freighter operation here decimates through the times aside from its costly operations.