Finnair Cargo's monthly results for 2019

Worldwide insecurity is putting the global air cargo industry through an uncertain time but Finnair Cargo has seen good growth during the first half of 2019.

The first half of the year for the air cargo industry has been, holistically speaking, a bit on the patchy side of things with the International Air Transport Association (IATA) reporting that global air freight demand decreased by 1.8% in January 2019, compared to the same period in the previous year.

According to IATA, global economic activity and consumer confidence have been impacted by such things as trade tensions which have led to a downward trend that started already in mid-2018.

Despite the global outlook, Finnair Cargo has been seeing steady growth for the first half of 2019. Finnair’s long-haul capacity increased with two new A350 aircraft that entered the service in December 2018 and in February 2019.

Moreover, Finnair’s expansion in Asia continues to be very fruitful for Finnair Cargo, with strong performance in the China, Japan, Hong Kong and Southeastern Asia markets. Additionally, Finnair Cargo has seen a positive upswing in the Nordics, especially in Norway.

Finnair Cargo’s first quarter performance

  • January saw scheduled cargo tonne kilometres (FTKs) increase by 17.2%* and revenue scheduled cargo tonne kilometres increase by 25.9%. This was mostly down to strong positive cargo market development in Japan and Western Europe, along with Nordic markets. 
  • For February, available scheduled cargo tonne kilometres increased by 16.2% while revenue scheduled cargo tonne kilometres increased by 26.2% mostly driven by strong positive cargo market development in Japan and Western Europe.  
  • In March, available scheduled cargo tonne kilometres increased by 18.4% with revenue scheduled cargo tonne kilometres increasing by 19.6%. Growth was mostly driven by the strong positive cargo market development in Japan and the Nordic countries. 
  • For April, there was a 27.0% increase in the available scheduled cargo tonne kilometres and revenue scheduled cargo tonne kilometres increased by 15.3% mostly driven by strong performances from Norway, Hong Kong and Southeast Asia.
  • In May, available scheduled cargo tonne kilometres increased by 20.5% and revenue scheduled cargo tonne kilometres increased by 16.8% mostly driven by the positive cargo market development in Norway and United States.
  • June saw scheduled cargo tonne kilometres increase by 15.4%. Revenue scheduled cargo tonne kilometres increased by 9.0% mostly driven by the positive cargo market development in Scandinavia and Finland. 
  • In July available scheduled cargo tonne kilometres increased by 15.1%. Revenue scheduled cargo tonne kilometres increased by 4.2%. The weak global cargo market was evident in July’s cargo performance.    

*The performance comparison is made on a year-on-year (yoy) basis.