Not long ago, Air Canada announced plans to add two 777 freighters to its fleet in 2024. Now it seems they are backtracking on this order.
VP of Air Canada Cargo, Jason Berry quit in March this year, after a two-year tenure. But not before he had ordered the two 777Fs as well as ten 767 freighters, while the cargo market was experiencing high revenues and demand.
In 2022, the air freight market was still flying high. The previous year, Air Canada had reported a 38.5% increase in cargo revenue on 2020.
However, now the air cargo market is under pressure. In 2023, we saw little or no peak season, and reports show that Air Canada’s Q2 cargo revenue has declined 24% from Q1.
Mr Berry has been replaced by Jon Turner from VP inflight services. A source commented, “The current management, we can assume, knows better and reversed the deal – smartest move they ever made. The math could never add up to a profitable operation.”
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