Cargolux profits hit the sky as volumes pass one million tonnes

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Cargolux Airlines International has had its best year on record with a significant increase in profits and handling over one million chargeable tonnes for the first time.

Profits increased from $5.5 million in 2016 to $122.3 million in 2017 with market demand remaining high resulting in the airline generating a record 131,212 block hours and average daily utilisation exceeding 15 hours.

The airline embarked on a transformation journey with the launch of its 2025 strategy focusing on ensuring that the airline remains sustainable.

It says this includes a comprehensive review of all of its business processes, technological developments and innovation to make it easier to transact with customers, develop new products and focus on the well-being of employees.

Cargolux president and chief executive officer, Richard Forson says: “The outstanding results for 2017 are a reflection of Cargolux employees’ dedication, passion and commitment to make this year a successful one on all fronts.

“Our employees are at the heart of Cargolux’ success and continually endeavor to ensure all requirements are met to provide customer satisfaction and ensure business sustainability. At the same time, I would also like to thank all of our loyal customers for their support.”

Highlights of the year including carrying in excess of 250,000 tonnes of freight to and from China, including 147,000 tonnes to and from Zhengzhou to establish Cargolux as the largest cargo carrier at the hub.

Cargolux operates between 19 and 25 weekly flights to and from Mainland China depending on the season, and during a state visit by prime minister Xavier Bettel in June 2017, several MoUs and agreements were signed between the governments to extend commercial exchanges between the countries.

The Luxembourg-based airline entered an agreement with Emirates SkyCargo to include capacity swaps and a new Emirates operated freighter service between Luxembourg and Dubai to complement the thrice weekly connection Cargolux offers to Dubai World Central.

Two new African destinations were added to Cargolux’s network with flights to Douala in Cameroon and Lubumbashi in the Democratic Republic of Congo.

The weekly flights bring the number of African destinations to 14, and since July 2017 Cargolux has offered four weekly connections to Quito in Ecuador in addition to flights to Curitiba and Viracopos in Brazil, and Mexico.