newstodate.aero
JAN 22, 2004 (newstodate): In the third quarter ending December 13, 2003, KLM Cargo saw its cargo revenues down by 10 percent compared to last year, generating EUR 264 million.
The decrease in revenues was mainly driven by reduced capacity and lower yields that dropped 11 percent year-on-year.
Pressure on yields was primarily caused by increased competition, especially ex-Europe, where traffic demand remains under pressure, the company says in a statement.
Traffic ex Asia performed well above last year, reflecting the potential of particularly the Chinese market, of which KLM Cargo benefits from the deployment of the two new freighters, and the cooperation with China Southern.
Cargo operating expenses of EUR 240 million were eight percent lower than last year, reflecting continuous productivity improvements and the implementation of the structural cost measures. Unit cost was down four percent year-on-year. Manageable unit cost was down two percent on a capacity decrease of one percent.
On the bottom line, KLM Cargo reported an operating profit of EUR 24 million, down EUR 8 million on last year's performance.
The decrease in revenues was mainly driven by reduced capacity and lower yields that dropped 11 percent year-on-year.
Pressure on yields was primarily caused by increased competition, especially ex-Europe, where traffic demand remains under pressure, the company says in a statement.
Traffic ex Asia performed well above last year, reflecting the potential of particularly the Chinese market, of which KLM Cargo benefits from the deployment of the two new freighters, and the cooperation with China Southern.
Cargo operating expenses of EUR 240 million were eight percent lower than last year, reflecting continuous productivity improvements and the implementation of the structural cost measures. Unit cost was down four percent year-on-year. Manageable unit cost was down two percent on a capacity decrease of one percent.
On the bottom line, KLM Cargo reported an operating profit of EUR 24 million, down EUR 8 million on last year's performance.