'Best year in history' for Cargolux in 2017

Written by: Felicity Stredder |
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Last year proved to an exceptional year for the Luxembourg-based carrier.

Net profit after taxes for 2017 totalled US$ 122.3m. This has skyrocketed up from US$ 5.5m in 2016, which had seen a considerable drop in profits from US$49m in 2015.FTKs, meanwhile, increased by 12.3% and the airline’s load factor consequently increased to 70.1% for the year.

For the first time in its history, the Cargolux Group exceeded 1m chargeable tonnes flown. Its worldwide market share grew to reach 4% and it now ranks as the sixth largest airline in respect of international scheduled freight operations. Market demand remained high throughout 2017 as did aircraft utilisation.

Highlights for Cargolux from 2017 included continuing to build on a strong commercial relationship with China, carrying in excess of 250,000 tonnes of freight to and from the country and establishing itself as the largest cargo carrier at the Zhengzhou airport hub. Two additional destinations were added to the carrier’s network in Africa; Douala in Cameroon and Lubumbashi in the Democratic Republic of the Congo, bringing the number of destinations in Africa up to 14. As of July 2017, the airline also offers four weekly connections between Europe and Quito, Ecuador, in addition to flights to Curitiba, Viracopos and Mexico. In the area of sustainability, 2017 also saw the airline reduce its carbon footprint by 2.2%, well above IATA’s goal of 1.5% per year until 2020.

“The outstanding results for 2017 are a reflection of Cargolux’ employees’ dedication, passion and commitment to make this year a successful one on all fronts”, said Richard Forson, Cargolux President and CEO. “At the same time, I would also like to thank all of our loyal customers for their support”.

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