January 23 - Cargolux Airlines, Europe's largest all freighter operator, is anticipating that losses in 2012 will be lower than initially forecast.

It has been a turbulent time for the Luxembourg headquartered carrier - at the end of December the Luxembourg State re-acquired the 35 percent shareholding in Cargolux that it sold to Qatar Airways in 2011.

A spokesperson for Cargolux stated that the airline had budgeted for losses of approximately USD60 million, but was confident that actual losses for 2012 will be significantly below this figure.

Cargolux experienced a strong end to the year with a number of charter flights contributing to revenues generated by scheduled services. This has caused Cargolux to revise its 2012 losses downwards, according to the spokesperson.