$35m loss for Cargolux

LinkedIn +

Cargo airline Cargolux made a US$35.1 million loss in 2012 – an improvement on the $57m loss budgeted by the airline for the year. Sales for the year were $1.7 billion.
It said that depressed demand coupled with continued overcapacity resulted in significant pressure on yields and load factors for all freight operators.
However, with the improvement in demand experienced in the last quarter of 2012 and the positive volume growth experienced by the airline for the first quarter of 2013 versus 2012, the airline was cautiously optimistic for the current year.
“Considering the state of the industry and the economic difficulties worldwide, Cargolux fared better than anticipated in 2012, that gives me hope for the current year,” said chairman Paul Helminger.
Last year Cargolux carried 645,759 tonnes of cargo on its worldwide network.
It is bringing in Boeing 747-8F freighters to replace its 747-400F. At the end of December the fleet consisted of eleven 747-400F and six 747-8F.
Four Boeing 747-8 freighters joined the fleet during the year and additional deliveries are expected in 2013. In total, Cargolux will receive 13 units of the advanced freighter.
Cargolux has implemented a new business plan designed to ensure the long-term sustainability of the airline with a return to profitability in 2014.

Share this story: