After generating second-quarter cargo revenues of 669 million euros, a 5.1-percent, year-over-year, drop, officials at Air-France said they will initiate a strategic review of their freighter business.
This review is a follow-up to the decision in October to reduce freighter capacity in Paris and Amsterdam by 2015. That move would have left two freighters operating out of Paris and eight flying from Amsterdam, but officials decided to further reduce their fleet out of Amsterdam. Options currently include cooperation with a third-party or retiring the planes, according to a press release.
“Faced with the slower-than-expected recovery of cargo demand, we will further decrease our full-freighter exposure but will remain a key player in the cargo business,” Alexandre de Juniac, chair of Air France-KLM’s board of directors, said in a statement.
Air France turned in disappointing cargo numbers even though freighter capacity declined by 8.6 percent, year-over-year during the second quarter, with total cargo capacity falling by 2 percent. For the first half of the year, total cargo capacity fell by 1.5 percent, while cargo traffic was flat. Cargo revenues of 1.34 billion euros represented a decrease of 4.3 percent, compared to the same period in 2013.