For the second year running, Cargolux has reported an increase in net profit after tax, despite softening demand for its services in the second half of 2018.
Net profit after tax for 2018 totalled USD211.2 million, a significant increase on 2017’s results, which stood at USD122.3 million.
Cargolux added that 2018 presented many challenges, including a shorter peak period compared to 2017, uncertainty regarding potential trade wards and Brexit, as well as geopolitical unrest. Despite this, the airline’s aircraft utilisation rate remained stable.
Richard Forson, Cargolux president and ceo, noted: “Strong focus on the management of our capacity and yields, increased demand for specialised shipments, a record year for our charter division and the diversification into offering aircraft, crew, maintenance, and insurance (ACMI) solutions all contributed to the performance achieved.”