Cargolux, the comeback kid

AFTER four years Cargloux has made a profit once again.

The company’s 2010 net income of US$59.8 million, almost $100 million less than its 2009 loss, marks its first profitable year since earning $82.6 million in 2006.

“The recovery of the air cargo market continued during 2010 and, while it was initially volume driven, prices started to recover in March,” the company said. “Asian markets turned out to be especially strong, and the area was a leader in the 2010 recovery even though China showed signs of a slowdown during the final months of the year.”

In 2010 traffic rose 10.1 per cent to 5.3 billion FTKs on a 3.7 per cent lift in capacity to 7.2 billion ATKs, producing a load factor of 73.3 per cent, up 4.3 per cent.

Cargolux expects to take delivery of the first three of 13 747-8 freighters during the second half of 2011, adding to its fleet of 15 747-400Fs and one 747-200SF.

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