American Airlines’ 2018 profits down, but record cargo volume made

American Airlines released its 2018 results in which net profit decreased, but its cargo volume broke a new record of 90,700 tonnes. It also increased its cargo ton miles (TCMs) from 2,788 to 2,908 million – a 4 percent increase year-over-year.

The carrier had some major hurdles to overcome during the year, including the impact of increased fuel costs as well as being forced to cancel 2,100 flights due to Hurricane Florence. American’s full-year net profit for 2018 was US$1.4 billion, or $2.1 billion excluding net special items, which are both down from 2017, in which its figures were $1.9 and 2.4 billion respectively. The carrier’s cargo division reported a record-setting $1 billion in revenue for the year.

The traditionally passenger-focused airline made significant investments in its cargo business over the year, with four new connecting the United States to Europe and service to Cuba.

In October 2018, it invested in its European foothold with the launch operations at Worldwide Flight Services’  new Milan Malpensa Airport (MXP) cargo terminal.

 

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