Lufthansa Cargo follows trend of mixed results
Comparatively good figures in 2008 from German giant Lufthansa Cargo have been heavily marred by a calamitous January and February this year, according to the company’s chairman.
Comparatively good figures in 2008 from German giant Lufthansa Cargo have been heavily marred by a calamitous January and February this year, according to the company’s chairman.
While the carrier posted a 20.9% increase in operating profit in 2008, the first two months of this year have seen it post volume declines of almost 25%. This pattern is similar to that followed by other European airlines, whereby full-year results are being wiped out by the recent freefall in international airfreight.
However, the carrier, which has a large presence in the Middle East, claims it has not lost market share and that it will emerge from this crisis all the stronger. In June, Lufthansa’s joint venture with DHL Express, Aerologic, will start offering 777 freighter capacities from Leipzig-Halle.
“This success shows that Lufthansa Cargo mastered the challenges of the past year professionally, be they the growing excess capacities in the market or strongly fluctuating fuel prices,” said Lufthansa Cargo chairman Carsten Spohr.
“Lufthansa Cargo’s very good business results reflect the strength of the cargo carrier, which enables it not only to stand up to increasingly fierce competition but also to extend its lead lastingly on competitors,” Spohr added.
