LATAM’s cargo revenue up 15.7% in Q3

LATAM Airlines Group reported $380.5 million in adjusted cargo revenue for the third quarter, up 15.7% from Q3 2023. The group’s adjusted operating revenue for Q3 increased 7.6% year over year to $3.3 billion, according to LATAM’s earnings report released Nov. 6. [caption id="attachment_57146572" align="aligncenter" width="1920"] (Courtesy/LATAM Cargo)[/caption] LATAM’s cargo revenue has grown YoY for the second consecutive quarter, “marking an upward trajectory,” the report stated. In Q2, LATAM’s adjusted cargo revenue was up 6.9% YoY . Q3 cargo capacity, measured in available tonne kilometers (ATK), increased 13.3% YoY to 2 billion, largely due to LATAM upsizing its cargo and passenger fleet, the carrier said. A 3.2-percentage-point increase in cargo load factor to 53.1% due to stronger demand from North America to South America also contributed. LATAM Cargo’s fleet consisted of nine production 767-300Fs and thirteen 767-300BCFs, as of Sept. 30. Twenty units are currently in service. During Q3, LATAM Cargo added its final planned 767-300BCF , completing its conversion order with Boeing. The 2012-vintage unit 40799 arrived Aug. 17 in Victorville, Calif. (VCV), after completing conversion in Singapore (QPG) and remains there. The group’s Q3 adjusted net income was $339.9 million, up 25.3% YoY. LATAM Group also reported in Q3: Adjusted income before taxes of $311.9 million, up 16.4% YoY; Adjusted EBITDAR of $827.9 million, up 14% YoY; Revenue tonne kilometers (RTK) of 1.1 billion, up 20.6% YoY; and 223,167 tonnes transported, up 6.9% YoY. Shares of LATAM Airlines Group ( NYSE: LTM ) were up 1.57% from market open to $27.86 as of market close today. LATAM has a market capitalization of $8.4 billion. LATAM was relisted on the New York Stock Exchange on July 25, ending a four-year absence from the exchange after filing for Chapter 11 bankruptcy in 2020. Emirates transports 1.2M tonnes of cargo in H1 Emirates, part of Emirates Group, today reported record half-year operating revenue of $19.3 billion for the first half of its 2024-2025 year, ending Sept. 30, up 5% from H1 2023-2024. The airline’s performance was boosted by strong travel and air cargo demand, the carrier said in today’s earnings report. Emirates SkyCargo transported 1.2 million tonnes of cargo in H1, up 16% YoY. The cargo arm of the airline saw “notable volume contributions” from strong e-commerce out of China and a rise in shipments bound for Dubai. Cargo yields rose 11% YoY. The carrier announced an order for five 777Fs from Boeing in July and another order for five more in September. Emirates now has fourteen outstanding 777Fs on order from Boeing through 2026. In August, Emirates took delivery of one of five units it ordered in 2022 . These orders are part of Emirates’ plan to replace older, leased units with new, owned ones, according to the carrier. Emirates also signed multiyear extensions for four 777Fs it leased from DAE Capital. The carrier will soon begin converting ten 777-3000ERs into freighters. The carrier reported H1 EBITDA of $5.2 billion, down 2% YoY, and profit before taxes of $2.6 billion, flat from last year’s corresponding period. Emirates Group also owns cargo handler dnata, which reported $2.8 billion in H1 revenue, up 11% YoY. Air France-KLM cargo revenue up 1.1% in Q3 Air France-KLM Group today reported 561 million euro ($605.7 million) in Q3 cargo revenue for the third quarter, up 1.1% YoY. The group’s operating revenue for Q3 increased 3.8% YoY to $9.7 billion, according to today’s earnings report. In contrast, Air France-KLM reported Q2 cargo revenue of $592.5 million , down 10% YoY, and overall Q2 revenue of $8.6 billion, up 4.3% YoY. The carrier attributed its cargo earnings in part to a “dynamic” airfreight market, particularly in Asia, driven by e-commerce and the Red Sea disruptions . In response, the carrier is redeploying part of its freighter capacity to Asia, the report stated. As of Sept. 30, the group had six freighters in operation: Three 747-400ERFs; One 747-400BCF; and Two 777Fs. In September, Air France-KLM and energy company TotalEnergies signed an off-take agreement for TotalEnergies to supply up to 1.4 million tonnes of sustainable aviation fuel to the carrier group until 2035. The contract is “one of the largest ever signed by the group” and is a “crucial lever in reducing our carbon footprint,” group Chief Executive Benjamin Smith said in the report. Air France-KLM reported $890 million in net income, down 13% YoY. The carrier also reported in Q3: EBITDA of $2 billion, down 5% YoY; 205,000 tonnes of cargo transported, up 3.5% YoY; Capacity, in ATKs, of 3.7 billion, up 1.5% YoY; Traffic, in RTKs, of 1.7 billion, up 3.1% YoY; and Load factor of 45.5%, up 0.7 percentage points YoY. Shares of Air France-KLM Group ( OTCMKTS: AFLYY ) were down 7.5 % from market open to 88 cents as of market close today. The group has a market capitalization of $2.4 billion. Editor’s note: All amounts have been converted to U.S. dollars. Cargo Facts LATAM 2025, the essential event for stakeholders in Latin America, will take place Feb. 10-11 at the Pullman Sao Paulo Guarulhos Airport. Learn more and register by Dec. 29 to take advantage of early-bird pricing.

LATAM’s cargo revenue up 15.7% in Q3

Emirates revenue up 5% in H1; Air France-KLM cargo revenue up 1.1% in Q3

FedEx expands Asia-Pacific network with upgrades in Shanghai, added China routes

Capacity increases 4.6% in October

Related Posts

Avianca’s Elias joins Cargo Facts Symposium 2026

Atran prepares for resumption of 737-400SF service

ANA, NCA target trans-Pac capacity balance one year after merger

Capacity increases 4.6% in October

Cargo Facts Free Newsletters

Cargo Facts Connect Podcast

Follow Us

Welcome Back!

Retrieve your password