The air cargo market has lost some steam from 2021 but is still going strong, according to the airline trade group IATA.
Delta Air Lines’ recovery from the pandemic hit a high note in the third quarter.
Air cargo is booming, but the pandemic set back international passenger airlines by seven years or more by several metrics.
Financial losses for the global airline industry were sequentially smaller in the second quarter
Willie Walsh is the blunt leader of the International Air Transport Association. He admits that airlines mistakenly treated cargo business as an afterthought.
Air cargo throughput is expected to continue its upward trend after a strong first-half showing, IATA said.
Excerpt: Most airlines survived the pandemic financial crisis, but will they survive the recovery?
Cargo has been the airline industry’s all-star performer since the pandemic began. Profits are soaring, but it’s not enough to overcome huge losses from the travel side.
One more quarter taking its pandemic lumps and then Delta says it will steer out of the COVID vortex and start making more money than it loses.
Gloom and doom could soon turn to sunny skies for U.S. airlines. It’s another story for international carriers, but everyone is managing heavy debt loads from COVID. Carriers will be more selective about what routes they fly in the future.
