Air France-KLM Group recorded a cargo revenue increase of 25% year on year in the second quarter, supported by reduced industry capacity due to the Middle East conflict and demand for high-tech shipments.
Total cargo revenues for the Group were €711m in the second quarter, up 25.7% compared to the second quarter of 2025.
Cargo unit revenues (per Available Ton Kilometers – ATK) were up 26.7% for Air France KLM Martinair Cargo (AFKLMP), said the Group.
“Cargo unit revenues increased significantly (26.7% at constant currency) thanks to strong
demand resulting in an increase in load factor and yield and, especially in Asia, high unit
revenues.”
The Group added that “increased pricing following the rising fuel price” also contributed to revenue increases.
AFKLMP volumes for the quarter amounted to 237m kilograms, an 8.9% increase year on year, while capacity was up 2.9% year on year.
The Group commented: “Global air cargo capacity started to normalize towards the end of Q2, as Middle East disruption eased, Gulf hub capacity was restored and operational pressure reduced. However, demand
continued to outpace capacity growth on several key lanes, keeping the market relatively tight.
“In 2026’s second quarter, the Group’s Cargo business achieved an impressive increase of
revenue per ATK against a constant currency of 26.7%. Since the Middle East conflict started,
reduced industry capacity and strong industry demand, fueled by demand for semiconductors
and AI-related hardware, increased the Group’s yield by 17.2% and load factor by 3.7pt to 49.2%.
“Cargo carried 237 million kilograms, representing an 8.9% increase year-on-year. The capacity
grew 2.9%, despite limitations in full freighter capacity due to scheduled and unscheduled
maintenance and traffic increased by 11.3% year-on-year.”
The Group confirmed that as of 30 June, it had six Airbus A350 freighters on order.
Total Group revenues increased by 9.7% to €7.6bn.
