Lufthansa Cargo sees signs for uptrend

Lufthansa Cargo remained in the profit zone despite declining demand in 2012 and expects delivery of two new Boeing 777 freighters in autumn
 
Lufthansa Cargo is anticipating a positive trend in the air freight markets. The management board is expecting a perceptible recovery in demand in the second half of the year 2013. In this market environment, Lufthansa Cargo will continue to steer capacity in accordance with demand so as to stabilise utilisation and average yields, said chairman and CEO Karl Ulrich Garnadt when presenting results for the 2012 business year in Frankfurt. The company is likely to increase capacity marginally in the single-digit percentage range in comparison with the previous year. The management board is expecting operating profits to be in the region of three-digit millions again in 2013 and higher than in the previous year. Moreover the delivery of two brand-new Boeing 777 freighters is expected in autumn.
 
Lufthansa Cargo had to face declining demand in all major markets in the 2012 business year. The airline reacted by pursuing flexible and demand-driven capacity management. “That was the only way for us to keep the capacity utilisation and profitability of our flights at a high level and be one of few cargo airlines worldwide to return a profit again in 2012“, explained Karl Ulrich Garnadt. During the year, Lufthansa Cargo returned an operating result of EUR 104 million; revenues fell below the year-earlier level of EUR 2.9 billion to EUR 2.7 billion euros. Total air freight and mail dropped by 8.5 per cent year-on-year to 1.72 million tonnes. The number of staff remained stable at 4,606.

Quelle: LogEastics

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