AFLYY - Cargo IT Meltdown Hits Air France-KLM Earnings | Benzinga
The joint venture reported cargo revenues fell 16.5% year over year to 562 million euros ($602.3 million) even as traffic in revenue ton kilometers — a measure of revenue generation based on how much cargo is carried times distance — increased 4%. More broadly, the company's operating loss widened to $524 million compared to $333 million a year ago, partly due to operational disruptions and slower cargo business.
The Air France-KLM Group operates six cargo jets: KLM's three Boeing 747-400 production freighters, Martinair's one 747-400 converted freighter and Air France's two 777-200s. The Air France and KLM cargo divisions also manage shipments carried by their large passenger fleets.
Lower cargo revenues were attributed to a 26% decrease in yield and problems implementing new software at ...