Cargolux Group flies profitably through volatile 2016

Apr 27, 2017: Cargolux has reported a total net profit of USD 5.5 million for 2016 while scheduled freight tonne-kilometres grew by 10 percent versus a market growth of 3.8 percent. Its worldwide market share reached 3.9 percent. Cargolux gained number six position in IATA’s Top 25 cargo carriers ranking for international scheduled FTKs.

In November 2016, the airline registered over 12,000 block hours flown and in excess of 96,000 tons sold. During that month, the airline also achieved a near record-high daily aircraft utilisation with 16:74 block hours per day, second only to November 2013, when Cargolux freighters flew an average of 16:85 hours per day.

Richard Forson, president and CEO, Cargolux, said, “The excellent results for 2016 are testament to the strength of Cargolux and the dedication and passion of our employees who deserve special recognition for their effort and hard work, especially during the last quarter. They have enabled the airline to perform all flights as planned and deliver on our service quality promise towards our customers, who, in turn, continue to support us with their loyalty and trust. The success of Cargolux is truly a team effort and that is exactly the way it should be.”

The Cargolux Group, in 2016, carried 964,131 tonnes of freight on its global network. The available tonne kilometers increased to 11.310 million.

Cargolux operations to and from Zhengzhou was further developed and the destination is now the Group’s largest hub in Mainland China, surpassing Shanghai. Flights between Luxembourg and Zhengzhou were complemented by services across the Pacific to Chicago and back. The airline carried over 105,000 tonnes of freight to and from Zhengzhou during 2016.