The 7 combination carriers that derived at least half of transport revenue from cargo in 2020

In normal years, the revenue contribution of cargo to a passenger-centric airline is auxiliary at best, accounting for between 10 to 30% . In 2020, at least seven global combination carriers derived the majority of their transport revenues from cargo, reflecting not only weak passenger traffic amid the COVID-19 pandemic, but also strong yields. The four major combination carriers based in Taiwan and South Korea all saw cargo’s share of their transport revenue jump past 65% in 2020. Taiwan-based China Airlines topped the list again, with cargo contributing an impressive 77% to overall transport revenue, representing a 46-percentage-point increase compared to 2019. Notably, the largest 747F operator based in Asia managed to achieve this without reconfiguring any of its passenger aircraft, sticking to belly-only flights or seat-loaded cargo. Korean Air’s and Asiana Airlines’ cargo contributions were the next highest, at 68% and 67%, respectively. Despite a 74% drop in passenger revenue in 2020, Korean Air’s cargo revenue grew by 66% and saved the group from an operating loss. Apart from its seven 747-8Fs, four 747-400Fs and twelve 777Fs, Korean Air has also reconfigured and is operating ten 777-300ERs and six A330-300s, while Asiana has reconfigured at least four A350-900s to supplement its four 747-400Fs, seven 747-400BDSFs and one 767-300F. Meanwhile, EVA Air, with only five 777Fs and the smallest freighter fleet of the four, still grew its cargo contribution by 47 percentage points to 67% of traffic revenue. It was Dubai-based Emirates that recorded the largest increase in its cargo traffic revenue contribution. At one point, the carrier operated almost its entire 777-300ER fleet — including seventeen reconfigured units — and an extremely widespread passenger-freighter network, so it is not surprising to see Emirates in second place in terms of FTKs. Qatar Airways, which has the largest freighter fleet of any scheduled combination carrier, has also established a significant cargo-only network with its freighters and passenger aircraft. The carrier has yet to release its annual report for its fiscal 2020, which ended March 31, 2021. Nine of the top ten combination carriers measured by cargo traffic in 2020 operate freighters, with the exception being United Airlines. United reported 2020 cargo revenue of $1.65 billion on traffic of 4.3 billion FTKs, with cargo contributing 11% of overall transport revenues to the airline in 2020, an increase of 8 percentage points. Cargo Facts Symposium, taking place LIVE October 25-27 at the Wynn Las Vegas, is the essential event for stakeholders in the air cargo industry. Learn more and register at www.cargofactssymposium.com .

The 7 combination carriers that derived at least half of transport revenue from cargo in 2020

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