Cargolux says market share now up to 3.8%

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Cargolux Airlines, fresh from announcing plans yesterday of a $77 million investment in new venture Cargolux China, says it gained market share in 2015 to 3.8 per cent.

The carrier says it flew 114,792 block hours, 8.8 per cent more than in 2014 and surpassed the all-time record the company had achieved in that year.

Tonnes sold grew by 7.4 per cent to 889,746 while the average load factor remained largely unchanged with 66 per cent, due to the increase in its fleet size.

Up to and including November 2015, Cargolux says it reached a global market share of 3.8 per cent. The company also hired additional staff, employing 1,879 people worldwide against 1,775 in 2014.

The carrier says: “Contrary to most European competitors, Cargolux continues on its growth path and has registered a boost in is operational performance during 2015.

The group operates a fleet of 25 Boeing 747 freighters and plans to add additional aircraft in Luxembourg and China in the next few years.

Cargolux will release its detailed figures for the business year 2015 at the end of April 2016.