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Cargolux sees tonnage, revenue growth in 2013

By Staff Reports on May 1, 2014
tagged cargolux

Cargolux recorded tonnage growth for 2013 of 16.7 percent year over year, moving 753,848 tonnes.

The shareholders of Cargolux approved the audited financial statements in the airline’s annual general meeting Wednesday.

Total revenues for 2013 grew by 14.4 percent to US$1,988.5 million (1,435.1 million euros), while tonne- kilometers flown increased from 4.8 million in 2012 to 5.7 million in 2013.

Cargolux operated 95,022 block hours, 13,364 hours more than planned for 2013. The high amount of operational activity contributed toward achieving a net consolidated gain of US$8.4 million (6 million euros). 

Cargolux expanded its fleet with three new Boeing 747-8Fs and retained, on a power-by-the-hour basis, a Boeing 747-400F that was initially planned to exit the fleet during 2013. It also added a Boeing 747-400ERF on the same basis, which brought the fleet to 20 aircraft at the end of the year.

With a bigger fleet and more operational activity than planned, Cargolux recorded an average daily aircraft utilization of 14:57 hours. The company’s market share reached 3.5 percent.

“We don’t expect market conditions to improve significantly in 2014,” Cargolux president and CEO Dirk Reich said. “Our priority is to grow and expand our global network with the continued support and valuable contribution of our hard-working employees while focusing on efficiency and performance improvements. I am also confident in our ability to reap the first tangible rewards from the cooperation with our new shareholder, HNCA.”