Lufthansa's chief executive said he now foresees a full-year operating loss for the company's cargo business as the global economic crisis continues to depress the air freight market. In 2008 the cargo division posted a €164 million operating profit in 2008, equal to 12 per cent of the group total. "It is apparent that the (cargo) market will remain at this extremely low level," Lufthansa CEO Wolfgang Mayrhuber said at the company's annual shareholders' meeting. Lufthansa Cargo's volumes … [Read more...] about Lufthansa Cargo likely to posts ’09 loss: CEO
Lufthansa Cargo
Lufthansa Cargo likely to posts '09 loss: CEO
Lufthansa's chief executive said he now foresees a full-year operating loss for the company's cargo business as the global economic crisis continues to depress the air freight market. In 2008 the cargo division posted a €164 million operating profit in 2008, equal to 12 per cent of the group total. "It is apparent that the (cargo) market will remain at this extremely low level," Lufthansa CEO Wolfgang Mayrhuber said at the company's annual shareholders' meeting. Lufthansa Cargo's volumes … [Read more...] about Lufthansa Cargo likely to posts '09 loss: CEO
Luft Cargo sees March slide but adds routes
Lufthansa Cargo saw its cargo volumes continue to slide with a 19.9 per cent drop in March from a year ago to 123,000 tonnes from 154,000 tonnes in March 2008. For the first three months of the year volumes are down 23.4 per cent to 328,000 tonnes. The cargo division cut capacity by 4.7 per cent and saw an 11.4 point drop in the load factor to 57.6 per cent. But the carrier has also recently launched a weekly freighter service between Frankfurt and Hanoi, along with a weekly MD-11 flight to … [Read more...] about Luft Cargo sees March slide but adds routes
Lufthansa Cargo sees profits rise 20%
Lufthansa, Europe's second largest airline, reported a rise in cargo earnings of more than 20 per cent in 2008 from a year earlier, but warned of declining revenue and profit in 2009 as freight volumes continue to collapse amid the ongoing global recession. Lufthansa Cargo's operating profit rose 20.6 per cent to €164 million year-on-year as revenue gained 6.3 per cent to € 2.9 billion. The cargo division's results come in the face of a severe industry downturn which saw a six per … [Read more...] about Lufthansa Cargo sees profits rise 20%
Lufthansa Cargo goes to short working hours
Lufthansa Cargo has taken an unusual step in getting agreement from about 2,600 ground staff employed by Lufthansa Cargo in Germany to go on short-time working from 1 March 2009. A company agreement to this effect was signed on Thursday in Frankfurt by the Lufthansa Cargo Executive Board and the Works Council. The envisaged measures will enable the company to adapt its staffing capacities flexibly to accommodate declining demand in the air cargo business, Lufthansa Cargo said. Under the terms of … [Read more...] about Lufthansa Cargo goes to short working hours
Luft Cargo and Jettainer start ULD pilot
Lufthansa Cargo and Jettainer have initiated a pilot scheme to test the impact of lightweight containers on the air cargo carrier's environmental performance and transport costs. The trial of the new containers will provide information about their weight advantages and shed light on the behaviour of containers made of composite materials compared with their conventional aluminium counterparts, the duo said. For this purpose, a total of 1,000 containers from four manufacturers will be used in … [Read more...] about Luft Cargo and Jettainer start ULD pilot
