‘Bounceback’ is at an end predicts Cargolux

AFTER the harrowing events of 2009, which saw Cargolux desperately refinancing as losses spiralled, 2010 has been a good year for the all-cargo carrier as it looks set to return to profitability.

Such a bright picture should have Uli Ogiermann (right), the airline’s president and chief executive officer, smiling and looking forward to further gains in 2011. Yet Ogiermann is far too streetwise to be drawn into the euphoria of bumper revenues. He believes the macro-economic climate is very uncertain and the industry should prepare for further tough times.

“Our experience of the peak season is like many others. There is no rush and is nowhere near as buoyant as 2009. Demand in the first six months of 2010 was very strong and we were making good money. Rates were high and there was positive economic momentum.”

For the full story read the latest free digital edition of Air Cargo News, no. 689 dated 18 October, here.

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