KLM SEES SECOND-QUARTER DECLINE
KLM Royal Dutch Airlines reported a decline in operating revenue and cargo load factor for its second quarter.
The airline said its cargo load factor feel three percentage points to 66.6 percent, compared to the year-earlier period.
Operating revenue in the KLM cargo segment declined 6 percent to $209.6 million. KLM sites the deconsolidation of the Cargo Service Center following the sale of this previously fully consolidated holding, and the fact that last years numbers included revenues temporarily leased-out excess capacity.
Cargo traffic increased 1 percent in the past year. However, cargo yields remained flat. KLM attributes this to long-term contracts with global forwarders and KLM's product differentiated time-sensitive product, which commands higher yields.