New planes and partnerships with carriers helped IndiGo carry 13.5 per cent more cargo on a year-on-year basis in CY 2024.
IndiGo’s fleet size increased to over 400 aircraft (including wet leased planes) in December end 2024 compared to 358 in December 2023. The airline also stitched partnerships with Air France-KLM and FedEx enabling it to increase freight loads to 3.98 lakh tonnes in 2024.
“It was a strong year for cargo with a 13.5 per cent increase in tonnage year over year. On multiple occasions we beat our monthly tonnage uplift records. The freighter utilisation is now approximately 9 hours per day which is high for narrow body freighter operations,” said Mark Sutch, Chief Commercial Officer (cargo), IndiGo.
Sutch said the airline witnessed growth across both business lines – belly space of passenger aircraft and freighters.
Freighters saw the highest growth as IndiGo added its third Airbus A321 freighter in November 2023. The airline uses the freighters for non-scheduled flights to China, Dubai, Hong Kong, Vietnam and other destinations.
“As of date, partnerships are a small part of our business, but we plan to grow this overtime in line with our growing international footprint. In 2024, we signed a comprehensive interline agreement with Air France KLM Martinair Cargo,” he said.
An interline agreement allows airlines to ship cargo on each others’ network. IndiGo partnered with FedEx to operate freighter flights on its behalf between Bengaluru and Dubai.
Globally, the air cargo segment has benefitted from the rise in e-commerce sales and challenges in ocean shipping. In India, total air cargo handled by airports grew 14.3 per cent between April – November on a y-o-y basis. While international cargo rose 19.4 per cent, domestic freight grew 6.7 per cent during the same period.
“The outlook for 2025 remains strong, given the ongoing challenges in maritime shipping. Global yields for air cargo stopped declining in 2023 and are now around 30 per cent above pre-pandemic levels. We expect cargo yields to remain stable in 2025,” International Air Transport Association said in its global outlook last month.
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