TURKISH Airlines posted a 48 per cent year-on-year increase in cargo revenue in 2021 to US$4 billion on the back of a 26 per cent increase in volume to 1.9 million tons.

Higher industry rates would also have contributed to the revenue improvement, reported London's Air Cargo News.

The carrier said the increase in volumes positioned it as the world＊s fifth largest cargo carrier (excluding integrators) in terms of tons carried, according to IATA statistics.

The carrier＊s performance in cargo now exceeds pre-pandemic 2019 levels in both revenues and traffic, which stood at $1.7 billion and and 1.5 million tons two years ago.

Turkish Airlines said that it now had a marketshare of 5.2 per cent for both cargo revenue and cargo traffic (FTK).

Meanwhile, cargo revenues now account for 37.6 per cent of total company revenues compared with 12.8 per cent in 2019.

Cargo capacity for the year increased 22 per cent compared to 2019 levels as it has continued to expand its freighter fleet.

By the end of the year, the airline was operating 20 freighters 每 10 A330-200Fs, eight B777Fs and two unspecified wet-lease aircraft.

Turkish also continues to operate PAX-freighter aircraft.

※Cargo operations are continuing at full capacity with freighters and about 15 wide body passenger aircraft are being utilised for cargo operations,§ the company said.

※As a result, 47 per cent increase was recorded in 2021 fiscal year cargo revenues, the contribution of cargo operations to total revenue and profit increased significantly compared to 2020 fiscal year.

※Recovery in passenger operations leads to rising supply of belly cargo capacity which in turn positively impacts total cargo capacity.§

Source Shipping Gazette