LATAM Airlines’ cargo revenues decreased by 10.2 per cent to US$269.3 million in the second quarter ending 30 June 2019, as the sale of a Mexican subsidiary and weaker demand in South America reduced figures.
The South American airline said the total was partially affected by the sale of our former Mexican subsidiary MasAir in the second half of 2018 that pulled down cargo revenues by approximately $10 million.
In the first six months of the year, cargo revenue totalled $532.7 million, 10.5 per cent less than the same period last year.
Tonnage flown also fell by 4.6 per cent in the second quarter to 220,231 tonnes, and declined by 4.5 per cent to 435,000 tonnes in the first half of the year.
Excluding MasAir, cargo yield declined by 4.6 per cent in the second quarter but 7.5 per cent in total to 31.7 US cents.
The load factor rose 1.3 percentage points to 55.8 per cent. As a result, cargo revenues per ATK declined by 2.2 per cent in comparison to the same quarter last year.
The LATAM Airlines Group reported as a whole in the second quarter achieved a net result improved by $144.9 million year-over-year to a $62.8 million net loss in second quarter 2019.
By the end of this year, LATAM will operate a fleet of 11 Boeing 767-300Fs, as it adds two aircraft this year to its freighter fleet.