Lufthansa Cargo strives for significant profit increase in 2014
After achieving an operating profit of EUR 77 million in 2013, Lufthansa Cargo is looking to strengthen its position as Europe’s leading cargo airline
Lufthansa Cargo has set the course to expanding its position as the leading cargo airline in Europe. The airline will greatly benefit from the now three Boeing 777 freighters to be deployed on North Atlantic routes and also to Shanghai from next week.
With significantly lower fuel consumption, the brand new aircraft not only produce lower emissions but will also help reduce costs. Another Triple Seven will be delivered in June this year. As a countermove Lufthansa Cargo is planning to fly just 14 of its originally 18 MD-11 freighters.
In the 2013 financial year Lufthansa Cargo maintained profitability in a very difficult market environment. Achieving a total revenue of EUR 2.4 billion (down 9% on 2012), the company announced an operating result of EUR 77 million (2013: EUR 105 million). The cargo airline boosted capacity utilisation even though tonnage levels fell slightly. On an annual average basis, the cargo load factor increased to 69.9 per cent. However, there was continued pressure on average yields due to poor demand. Demand in global air freight markets remained perceptibly below expectations last year. Signs of the upturn predicted for the middle of the year only appeared towards the end of the year, with positive developments on Far Eastern routes in particular.
Lufthansa Cargo has started well into this financial year, said Chairman and CEO, Karl Ulrich Garnadt, at the annual press conference in Frankfurt. “We have set ourselves ambitious targets. We want to grow our tonnage by around five per cent and plan to significantly increase the operating profit”, said Garnadt.
www.lufthansa-cargo.com
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