Cargo at Air France KLM experienced a strong turn around in the second half of 2017, with traffic and revenue improving substantially.
The airline group says improvements were driven by solid demand growth to and from Asia at the beginning of 2017 and from Latin America in the second half of the year, which it says enabled optimised revenue management steering.
In the fourth quarter tonnage increased by 2.7 per cent to 301,000 tonnes and by 0.7 per cent for the whole year to 1.1 million tonnes.
Traffic measured in revenue tonne kilometres increased by 3.3 per cent in the fourth quarter to 2.3 billion and by 1.8 per cent to 8.6 billion for the year.
Fourth quarter capacity increased by 3.3 per cent to 3.6 billion, meaning load factors remained at 63.2 per cent, and capacity in available tonne kilometres were up 0.9 per cent to 14.3 billion for the year, with load factors improving by 0.6 percentage points to 59.9 per cent.
Total cargo revenue was up 6.8 per cent to €583 million in the fourth quarter and by 0.9 per cent to €2 billion for the year.
Net results for the whole company in 2017 was €1.1 billion excluding the significant balance sheet de-risking linked to the de-recognition of two pension plans, which cost €1.4 billion.
When including the de-risking, net results for the group was a loss of €274 million in 2017, compared to €792 million in 2016.