What is happening at Air France-KLM Cargo?
AF-KL’s cargo operations took a big hit in the recession — no news there, because everybody’s cargo operation took a big hit. But beginning last September, and continuing right through today, a sharp resurgence in demand has most carriers reporting y-o-y monthly gains of 25% to 45%. But not Air France. What is going on?
It is true that AF-KL downsized its freighter fleet, but so did nearby neighbor Lufthansa, and yet Lufthansa reported April traffic up 25% y-o-y — above pre-crisis levels — while AF reported a 2% decline. And that’s a 2% decline from April 2009 which was itself down 23% from the previous year.
Anybody out there have any thoughts on this?
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