English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Lufthansa Cargo stays in the black

FRANKFURT: Lufthansa Cargo reported revenues of €2.44 billion in 2013 – down 9.2 percent over the previous year. The operating profit dropped 26.7 percent in the same period to €77 million.

The airline managed its capacity well with a variable of just 0.3 percent year-on-year. Despite an attempt at a rate091102 GARNADT increase – not viewed with particular favour in its home market – revenue per tonne-kilometres flown and the overall load factor remained the same at 8.7 billion and 69.9 percent respectively.

The company reported a fall of 6.6 percent in its overall costs due to a "vigorously pursued" SCORE (Synergies, Costs, Organisation, Revenue, Execution) programme that reduced expednitures by 38 million and produced an extra 35 million in revenue: "If we want to implement our ambitious programme without cuts, however, we are going to need higher operating results again to finance it," declared Martin Schmitt, Lufthansa Cargo head of Finance and HR. The company says it expects to gain a further 70million from the programme this year – largely due to the additional utilization of the B777 freighter fleet.

Outgoing chairman and CEO Karl Ulrich Garnadt (right) admitted 2013 had been a difficult year but said 2014 should see a "significantly higher result" as a result of ambitious targets that include growing tonnage flown by five percent. The company will take delivery of one more B777 freighter in June this year to add to its fleet of three and will reduce its MD-11 freighter fleet to 14. Other 2014 milestones include ground breaking of its new cargo terminal in May; a bilateral agreement with "an airline outside the Lufthansa Group" – possibly FedEx - by July; and the processing of 200,000 e-AWBs by the end of the year.

Another milestone, or revolving door, will be on May 01 when Garnadt hands over the keys to his desk to former Lufthansa Cargo CFO Peter Gerber who moved to Lufthansa's passenger business in June 2012 as head of HR and IT. On the same day Garnadt starts his new job as CEO of the airline group's passenger operation.

News

Written on 22/02/2018, 19:42
infrastructure-improvements-not-rocket-science-says-iataNEW YORK, NY: February 22, 2018. IATA director general and CEO Alexandre de Juniac says the U.S. government should get out of the business of running...
Written on 22/02/2018, 17:40
top-employer-dhl-opens-new-brussels-hubBRUSSELS: February 22, 2018. DHL Express has a new €140 million, 36,500 sq.mt. regional hub at Brussels Airport that can handle 42,000 shipments an...
Written on 22/02/2018, 16:10
record-year-for-rockfordROCKFORD, IL. February 21, 2018. The Chicago Rockford International Airport (RFD) has reported a 50 percent increase in landed cargo in 2017 to reach a...
Written on 22/02/2018, 15:44
brussels-levies-395-million-fine-on-maritime-car-carriersBRUSSELS: February 21, 2018. The European Commission (EC) has levied fines totaling €546 million on four maritime car carriers and three major car parts...
Written on 15/02/2018, 17:39
first-uae-built-satellite-nears-launch-dateDUBAI: February 15, 2018. The first satellite developed and built at the Mohammed Bin Rashid Space Centre (MBRSC) by Emirati engineers has been flown to...
Written on 14/02/2018, 22:30
saudi-arabia-and-uae-provide-mobile-lift-for-yemen-aid-programSANA'A, Yemen. February 12, 2018. Prior to disbursing US$1.0 billion in humanitarian aid to Yemen next month, Saudi Arabia and the UAE recently arranged...
Written on 14/02/2018, 16:09
master-showjumpers-travel-in-styleHONG KONG: February 14, 2018. The latest Longines Masters equestrian event ended last weekend with a Grand Prix win by France's Patrice Delaveau on his...
Written on 12/02/2018, 18:37
humanitarian-logistics-databank-launchedDUBAI: February 11, 2018. The Humanitarian Logistics Databank, an information-sharing platform for aid agencies, has been launched by Princess Haya bint...
Written on 10/02/2018, 23:29
gac-to-manage-yamal-lng-icebreaker-fleetSABETTA PORT, Russia. February 09, 2018. The Yamal LNG gas project has appointed GAC Russia to manage its fleet of icebreaker tankers at Sabetta for the...
Written on 09/02/2018, 18:26
drones-about-to-take-off-in-singaporeSINGAPORE: February 07, 2018. Airbus has partnered with the Civil Aviation Authority of Singapore and Singapore Post to test its Skyways package delivery...
Written on 06/02/2018, 15:55
singapore-tops-new-belt-road-indexSINGAPORE: February 05, 2018. According to an index of real estate prospects in 67 countries along China's Belt & Road Initiative (BRI), Singapore,...
Written on 04/02/2018, 21:56
record-profit-for-amazon-undermines-the-need-for-tax-breaksWASHINGTON, DC: February 01, 2018. A report from the U.S. Economic Policy Institute (EPI) concludes Amazon fulfillment centers do not boost overall...
Written on 04/02/2018, 21:27
tiaca-adopts-new-vision-with-makeoverMIAMI: January 31, 2018. The International Air Cargo Association has announced a new vision that includes more training and consultancy projects to ensure...
Written on 04/02/2018, 20:26
cartel-members-fined-169-millionLUXEMBOURG: February 01, 2018. The Court of Justice of the European Union has upheld €169 million in fines originally imposed by the European Commission...
Written on 01/02/2018, 20:16
iata-confirms-a-record-year-for-air-cargoGENEVA: January 29, 2018. IATA reports a 9.0 percent year-on-year increase in freight tonne-kilometers (FTKs) in 2017, noting it was the strongest...
Written on 28/01/2018, 18:01
us-4-5-trillion-circular-economy-goes-mainstreamDAVOS, Switzerland: January 24, 2018. BMW has joined 29 major corporations with collective annual revenues of US$1.3 trillion in supporting a circular...
Written on 27/01/2018, 01:21
low-marks-for-russian-corporate-transparencyMOSCOW: January 25, 2018. Transparency International (TI) Russia has published a first-ever study on the financial transparency of 200 Russian companies...
Written on 27/01/2018, 00:09
boeing-loses-bombardier-anti-dumping-caseWASHINGTON, DC: January 26, 2018. In a blow to the Trump administration and Boeing, the U.S. International Trade Commission (ITC) has ruled unanimously...
Written on 26/01/2018, 21:28
ndia-s-gst-expected-to-reduce-tax-ratesKUWAIT CITY: January 25, 2018. According to the latest survey of global logistics executives by Agility, India's GDP is accelerating again after early...
Written on 23/01/2018, 20:30
logistics-industry-optimism-for-emerging-marketsBAAR, Switzerland: January 22, 2018. Emerging markets have ignored growing populism in the U.S. and parts of Europe to "look brighter than they have in...

- powered by Quickchilli.com -