Delta Air Lines’ cargo revenue dropped by more than a third year over year (y/y) for the second consecutive quarter amid an ongoing freight recession that has sharply eroded demand and shipping rates. The cargo and maintenance businesses pressured total unit revenues by a point in an otherwise strong third quarter for the airline.
The Atlanta-based airline said third-quarter revenue for cargo fell 36% y/y to $154 million after a 37% decline in the second quarter. Cargo sales year to date through September were down 33% to $535 million. The decline in freight business began early last year. Revenue has tumbled from $272 million in the second quarter of 2022.
