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Cargolux loses out in 2012

April 24 - Luxembourg headquartered B747 freighter operator Cargolux International Airlines has reported a net loss of USD35.1 million for financial year 2012 off revenues of just under USD1.74 billion.

Cargolux noted, however, that the loss is markedly below the USD57 million forecast for FY2012, due to positive volume growth experienced in the last quarter of 2012.
In 2012, the airline carried 645,759 tonnes of cargo. Cargolux also continued with its fleet renewal programme replacing older B747-400 freighters with four of the larger, more fuel efficient B747-8F. At the end of 2012 its fleet was made up of 11 B747-400F and six B747-8F aircraft.
Paul Helming, chairman of the board of directors, Cargolux International Airlines commented: "Considering the state of the industry and the economic difficulties worldwide, Cargolux fared better than anticipated in 2012, that gives me hope for the current year."

The company added that it is implementing a new business plan designed to return the carrier to profitability in 2014.

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