March 31 - Following the severe global economic disturbances of 2009, external environmental issues faced maindeck airfreight capacity provider Cargolux in 2010 just as the market's financial conditions gave the airline mixed messages, according to its re
First it was the Icelandic ash cloud that grounded part of the Cargolux fleet for four days in April and, second, when severe winter weather in December resulted in delays and traffic disruptions.
Meanwhile, 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 slow-down during the final months of the year.
As Asia was leading the way, other markets began to recover, notably the United States, with Europe and Africa following behind.
With a total of 127,438 tonnes, the Americas contributed significantly to the network. It represents a rise of 11.5 percent versus 2009. Markets were strong throughout the year, in particular in the aftermath of the airspace closure in Europe due to volcanic ash in April. Revenue in this region reached USD 279.5 million, an improvement of almost 22 percent.
This year will have its own challenges, says the airline. While air cargo volume is expected to grow by 6.1 percent globally, yields are likely to remain under pressure from over-capacity building up in some parts of the world, particularly in Asia. Any prolonged surge in oil prices, denting the profitability of the industry's highly cyclical business, will have to offset by higher productivity and enhanced competitiveness, the airline notes.