American Airlines revealed its financial results for the first quarter, being the last of the major US passenger airlines to do so. While passenger revenues continued to rise, cargo sales still decreased, although at a slower pace.
Delta Airlines was the first to report, boasting a record operating revenue of $13.7 billion and an operating income of $614 million. Despite this, their cargo business saw a 15% drop in revenue compared to the previous year.
American Airlines reported record overall revenues of $12.6 billion, but also saw a net loss of $312 million. Cargo revenues for American decreased by 6% from the previous quarter.
United Airlines saw an increase in operating revenue, reaching $12.5 billion, but also reported a net loss of $124 million. Their cargo revenues slipped by 2.7% from the final quarter of the previous year.
All three airlines expanded their international networks last year, which initially boosted cargo revenues. However, with falling yields and rates throughout 2023, these revenues ultimately declined. United was the most aggressive in expanding its international operations.
Looking ahead, United is adding flights to various destinations, while Delta is launching new flights to Naples and resuming flights to Shannon. American Airlines will also be adding new routes to Tokyo, Copenhagen, and other cities.
In terms of capacity, Delta is set to receive new widebody aircraft in the coming years, while American will focus on narrowbodies. United is also adding new aircraft to its fleet, both widebodies and narrowbodies.
