Photo: American Airlines
American Airline’s cargo revenues declined last year despite volumes increasing and its main US rivals reporting an improvement.
The Dallas Fort Worth-based carrier reported cargo revenues of $804m in 2024, a slight 0.9% decrease compared with 2023 levels.
Meanwhile, the carrier’s freight volumes in cargo ton miles terms increased by 12.3% year on year in 2024 to 2.1bn CTM.
With volumes growing and revenues falling, cargo yields per ton mile fell 11.8% to 38.92 cents.
However, revenue performance improved as the year progressed and in the fourth quarter cargo revenues were up 10.5% on a year ago to 220m and cargo traffic increased by 5% to 526m CTM.
Earlier this week, United reported a 16.6% increase in cargo revenues for the year to $1.7bn while its cargo traffic improved by 14.1% to 3.6bn CTM.
At Delta Air Lines, cargo revenues for the year were up 14% to $822m.
For the full year 2024, American turned a $846m profit – which lags the $3.5bn and $3.1bn full-year profits posted by Delta and United, respectively.
American has in recent months undertaken an overhaul of its cost structure and domestic network as it attempts to keep pace with competitors.
Operating revenues at the overall group increased by 2% to $54.2bn.
