In 2024, the air cargo industry experienced significant growth in demand after a slower start of the year. Growth was mainly driven by e-commerce, combined with relatively tight capacity. Geopolitical tensions around the Red Sea and ocean shipping disruptions further elevated demand, particularly in Asia. The Group was limited able to benefit in the first half year from this tailwind due to relatively low capacity on Asia and payload restrictions due to the Russian airspace closure. The implementation of an IT system impacted unit revenues as well. Overall, unit revenue decreased by -17.1% in the first half year compared to H1 2023. In the second half of the year the Group responded to market dynamics by redeploying full freighter capacity to Asia and unit revenues were gradually increasing by 13.6% year-over-year.
Air France-KLM Full Year 2024 results
2024 Full Year Results Cargo