ECONOMY

Turkish Cargo grows despite global slowdown

Turkish Airlines (THY) subsidiary Turkish Cargo recorded a 7.1 percent increase in freight volume despite a 5 percent contraction in the global air cargo in May, global air cargo data provider, World Air Cargo Data (WACD) has revealed.

According to a THY statement, Turkish Cargo maintained its stable growth after the opening of the mega aviation hub Istanbul Airport.

The global cargo market, however, continued its downward trend both in freight tonnage and revenue yields. "In the month of May, total chargeable weight again decreased year on year, this time by 5 percent, whilst yields in the U.S. dollar fell by 5.6 percent, resulting in revenue loss for the airlines of more than 10 percent year on year," a WACD statement said.

Turkish Cargo, meanwhile, expanded its share in the global market from 3.9 percent to 4 percent and maintained its position as the seventh largest air cargo carrier. According to the WACD data, Turkish Cargo saw the largest growth in Asia and American markets in May. In terms of freight tonnage, Turkish Cargo recorded a 34.4 percent growth in the operations carried out on the American continent. The cargo freight carried to the Far Eastern market grew by 19.3 percent while the cargo operations in the Middle East/Southeast Asia market rose by 12.2 percent.

In addition to passenger aircraft service, flag carrier Turkish Airlines also carries freight to 88 destinations around the world with its cargo company Turkish Cargo. Thanks to the cargo carrying capacity of THY, Turkish Cargo has reached 309 destinations in 124 countries and carries direct cargo to 88 points with its cargo aircraft fleet. The company is boosting its service quality with its existing infrastructure and investments.

The accomplished air cargo carrier, which evolved into the Turkish Cargo brand in 2000, carried 1.4 million tons in 2018, ranking among the top 10 international air cargo carriers, according to WACD data.

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